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LB Corporation purchased a business car in June 2021 for $62,000. The car weighs 8,000 pounds and will be used 100 percent of the time
LB Corporation purchased a business car in June 2021 for $62,000. The car weighs 8,000 pounds and will be used 100 percent of the time in the business. Compute the largest depreciation deduction possible in 2021. No other property purchases were made during the year. (Consider bonus depreciation and the Section 179 deduction, if applicable.)
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