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Arlington LLC purchased an automobile for $55,000 on July 5, 2020. What is Arlington's depreciation deduction for 2020 if its business-use percentage is 75 percent?
Arlington LLC purchased an automobile for $55,000 on July 5, 2020. What is Arlington's depreciation deduction for 2020 if its business-use percentage is 75 percent? (Ignore any possible bonus depreciation.) (UseExhibit 10-10.)
A)$4,250
B)$5,500
C)$7,575
D)$8,250
E)None of the choices are correct.
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