Question
Janis bought a 2012 Mercedes Benz S550 on 1 July 2016 for 70,000 She uses it 100% in her business as a folksinger. She wishes
Janis bought a 2012 Mercedes Benz S550 on 1 July 2016 for 70,000
She uses it 100% in her business as a folksinger.
She wishes to take the maximum amount of depreciation and 179 expense allowed on the vehicle.
How much of her $70,000 cost can she recover in the first year?
This was a used vehicle, and does not qualify for bonus depreciation
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Managerial Accounting
Authors: Ray Garrison, Theresa Libby, Alan Webb
10th Canadian edition
978-1259024900
