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On April 5, 2021, Kinsey places in service a new passenger automobile that cost $60,000. The car is used 100% for business in each
On April 5, 2021, Kinsey places in service a new passenger automobile that cost $60,000. The car is used 100% for business in each tax year. Kinsey uses the MACRS 200% declining-balance method of cost recovery (the auto is a 5-year asset). Assume Kinsey elects any available additional first-year depreciation. The maximum depreciation allowed for 2021 is $ 10000 and for 2022 is $16000
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Management and Cost Accounting
Authors: Colin Drury
8th edition
978-1408041802, 1408041804, 978-1408048566, 1408048566, 978-1408093887
