On February 4, 2020, Jackie purchased and placed in service a car she purchased for $20,000. The car was used exclusively for her business. (Use Table 6A-1 and Luxury Automobile Depreciation) Required: Compute Jackie's cost recovery deduction in 2020 assuming no $179 expense but the bonus was taken: TABLE 6A-1 General Depreciation System: 200% or 150% Declining Balance Switching to Straight-Line* 24.49 Half-Year Convention Recovery Year 3-Year 5-Year 7-Year 10-Year 15-Year 20-Year 1 33.33 20.00 14.29 10.00 5.00 3.750 2 44.45 32.00 18.00 9.50 7.219 3 14.81 19.20 17.49 14.40 8.55 6.677 4 7.41 11.52 12.49 11.52 7.70 6.177 5 11.52 8.93 9.22 6.93 5.713 6 5.76 8.92 7.37 6.23 5.285 7 8.93 6.55 5.90 4.888 8 4.46 6.55 5.90 4.522 9 6.56 5.91 4.462 10 6.55 5.90 4.461 11 3.28 5.91 4.462 12 5.90 4.461 13 5.91 4.462 14 5.90 4.461 15 5.91 4.462 16 2.95 4.461 17 4.462 18 4.461 19 4.462 20 4.461 21 2.231 * May not be used for farm business property generally placed in service after 1988. See Table 14. Rev. Proc. 87-57, 1987-2 CB 687. Luxury Automobile Limitations In addition to the business use limitation, the amount of depreciation allowed for luxury automobiles is limited. Passenger autos are defined as four-wheeled vehicles made primarily for use on public streets, roads, and highways with a gross vehicle weight of less than 6,000 pounds. 31 Light trucks do not have a separate limit as they have had in the past.32 The depreciation expense limits for luxury autos and light trucks placed in service in tax year 2020 follow: Year 1 2020 Year 2 2021 Year 3 2022 Year 4 2023 Auto Limit S 18.100 S 16.100 $ 9,700 $ 5,760 These limits apply to $ 179, the 100% bonus, and regular MACRS depreciation. They are reduced further if the business use of the auto is less than 100%. If for some reason the 100% bonus was not taken the limit for regular depreciation would revert to $10,100