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a,b,c Problem 2.67 (LO 2.3) (Algo) TThe following information applies to the questions displayed below] Lina purchased a new car for use in her business
a,b,c
Problem 2.67 (LO 2.3) (Algo) TThe following information applies to the questions displayed below] Lina purchased a new car for use in her business during 2022 . The auto was the only business asset she purchased during the year, and her business was extremely profitable. Calculate her maximum depreciation deductions (including 5179 expense unless stated otherwise) for the automobile in 2022 and 2023 (Lina doesn't want to take bonus depreciation for 2022 or 2023) in the following alternative scenarios (assuming half-year convention for ali); (Use MACRS Table1. Table 2, and Exhibit 10-10) Problem 2-67 Part a (Algo) a. The vehicle cost $31,400, and business use is 100 percent (ignore 5179 expense). Problem 2-67 (LO 2-3) (Algo) [The following information applies to the questions displayed below.] Lina purchased a new car for use in her business during 2022. The auto was the only business asset she purchased during the year, and her business was extremely profitable. Calculate her maximum depreciation deductions (including $179 expense unless stated otherwise) for the automobile in 2022 and 2023 (Lina doesn't want to take bonus depreciation for 2022 or 2023 ) in the following alternative scenarios (assuming half-year convention for all) (Use MacRS Table 1. Fable 2 and Exhibit 10-10.) Problem 2-67 Part b (Algo) b. The vehicle cost $77,000, and business use is 100 percent. Problem 2-67 (LO 2-3) (Algo) [The following information applies to the questions displayed below] Lina purchased a new car for use in her business during 2022 . The auto was the only business asset she purchased during the year, and her business was extremely profitable. Calculate her maximum depreciation deductions (including $179 expense unless stated otherwise) for the automobile in 2022 and 2023 (Lina doesn't want to take bonus depreciation for 2022 or 2023) in the following alternative scenarios (assuming half-year convention for aif) (USe MAcRS Table 1. Table 2, and Exhibit 10-10.) Problem 2-67 Part c (Algo) c. The vehicle cost $77,000, and she used it 80 percent for business Step by Step Solution
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