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In March 2021, Jones Company purchased a Mercedes for use in its business at a cost of $73,000. Required: Assuming no bonus depreciation or Section
In March 2021, Jones Company purchased a Mercedes for use in its business at a cost of $73,000. Required: Assuming no bonus depreciation or Section 179 deduction, calculate the allowable tax depreciation on this asset for 2021, 2022, and 2023. Use Table 7-1 and Table 7-2. Use the below table for annual depreciation deduction for year 2021 to 2024 : In March 2021, Jones Company purchased a Mercedes for use in its business at a cost of $73,000. Required: Assuming no bonus depreciation or Section 179 deduction, calculate the allowable tax depreciation on this asset for 2021, 2022, and 2023. Use Table 7-1 and Table 7-2. Use the below table for annual depreciation deduction for year 2021 to 2024
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