1. On July 1, 2017, Brent purchases a new automobile for $50,500. He uses the car 92% for business and drives the car as follows: 7,000 miles in 2017, 17,500 miles in 2018, 19,600 miles in 2019, and 14,000 miles in 2020.

   Determine Brent's basis in the business portion of the auto as of January 1, 2021, under the following assumptions:

   If required, round your computations to the nearest dollar.

   a. Brent uses the automatic mileage method.

   Compute his basis adjustments for depreciation for each year. Click here to access the basis adjustment table.

   2017: $fill in the blank 8ef954005000fb1_1

   2018: $fill in the blank 8ef954005000fb1_2

   2019: $fill in the blank 8ef954005000fb1_3

   2020: $fill in the blank 8ef954005000fb1_4

   Brent's adjusted basis in the auto on January 1, 2021, is $fill in the blank 8ef954005000fb1_5.

   b. Brent uses the actual cost method. [Assume that no 179 expensing is claimed and that 200% declining-balance cost recovery with the half-year convention is used. The recovery limitation for an auto placed in service in 2017 is as follows: $3,160 (first year), $5,100 (second year), $3,050 (third year), and $1,875 (fourth year).]

   Compute his depreciation deductions for year. Click here to access the depreciation table.

   2017: $fill in the blank f00f6b04405103b_1

   2018: $fill in the blank f00f6b04405103b_2

   2019: $fill in the blank f00f6b04405103b_3

   2020: $fill in the blank f00f6b04405103b_4

   Brent's adjusted basis in the auto on January 1, 2021, is $fill in the blank f00f6b04405103b_5.

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