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On April 5, 2021, Kinsey places in service a new automobile that cost $70,250. He does not elect 5 1/4 expensiny, a ne take any

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On April 5, 2021, Kinsey places in service a new automobile that cost $70,250. He does not elect 5 1/4 expensiny, a ne 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 200% declining balance method of cost recovery (the auto is a 5-year asset). Click here to access the depreciation table to use for this problem. Assume the following luxury automobile limitations: year 1: $10,100; year 2: $16,100 If required, round your final answers to the nearest dollar. Compute the total depreciation allowed for: 2021: 9,595 x 2022: 15,295 x

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