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Jillian is an employee of Monrow Corporation (a calendar-year corporation). In February 2018, Monrow purchased a new $50,000 car for Jillians use. During 2018 and
Jillian is an employee of Monrow Corporation (a calendar-year corporation). In February 2018, Monrow purchased a new $50,000 car for Jillians use. During 2018 and 2019, 60 percent of Jillians mileage on the car was business related and 40 percent was for her personal driving. Her personal use is properly treated as taxable fringe benefit income. Compute Monrow Corporations depreciation deductions for this car for 2018.
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