Question
On June 1, 2017, Irene places in service an automobile that cost $21,000. The car is used 100% for business use. Determine the cost recovery
On June 1, 2017, Irene places in service an automobile that cost $21,000. The car is used 100% for business use. Determine the cost recovery deduction for 2017 assuming he does not use bonus depreciation. (I believe the asnwer is D becasue you do 21,000 x .2 = 4,200 but limited to 3,160) PLEASE EXPLAIN IN WORDS!
A. $11,160
B. $4,200
C. $11,060
D. $3,160
E. None of the above
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College Accounting Chapters 1-29
Authors: John J. Wild, Vernon J. Richardson, Ken W. Shaw
2nd Edition
0077398173, 978-0077398170
