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Garret buys a new Lexus for $60,000 in the current year to use in his commercial real estate business. Garrett cannot deduct the cost of
Garret buys a new Lexus for $60,000 in the current year to use in his commercial real estate business. Garrett cannot deduct the cost of the automobile in the current year because:
a. it is unreasonable in amount.
b. it is not necessary.
c. it is not a regularly recurring item.
d. it is a capital expenditure.
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