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On April 30, 2017, Leo purchased and placed in service a new car that cost $20,500. The business use percentage for the car is always
On April 30, 2017, Leo purchased and placed in service a new car that cost $20,500. The business use percentage for the car is always 100%. He does take the additional first-year depreciation.
If required, round your answers to the nearest dollar.
c. Leo's cost recovery deduction in 2017 is $ and for 2018 is $.
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