On April, 2020. Kinsey places in service a new automobile that cost $75,500. He does not afect 5 179 expensing, and take any available additional first year depreciation. The car is used 65% for business and 35 for personal use in each tax year Kinsey chooses the MACRS 2004 declining balance method of cost recovery (the auto is a 5 years) Click here to access the depreciation table to use for this problem Assume the following luxury automobile limitations year 1$10,100; year 2: $15.100 If required, round your final answers to the nearest dollar Compute the total depreciation wlowed for 2020: 3.400 X 2021 13.440 x Limits exit on MACAS deductions for automobiles and other listed property that are used for both personal and business purposes. If the property is predominantly used for business, the taxpayer can use the PACKS tables to recover the cost in cases where the property is not predominantly used for business, the cost is recovered wing the right line method