Modified Accelerated Cost Recovery System (MACRS), Listed Property, Limitation on Depreciation of Luxury Automobiles (LO 7.4, 7.6, 7.7) On September 14, 2015, Jay purchased a passenger automobile that is used 75 percent in his accounting business. The automobile has a basis for depreciation purposes of $43,000, and Jay uses the accelerated method under MACRS. Jay does not elect to expense under section 179. Click here to access the depreciation table and click here to access the annual automobile depreciation limitations. Calculate Jay's depreciation deduction for 2015 assuming no bonus depreciation. $ _______ Assuming the same business percentage (75 percent) in 2016, calculate Jay's depreciation deduction for 2016. $________