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*On June 15,2021,J Jim purchased an automobile that he used 60% for business and 40% for personal purposes. The cost of the automobile was $65,000.
*On June 15,2021,J Jim purchased an automobile that he used 60% for business and 40% for personal purposes. The cost of the automobile was $65,000. Jim would like to take as much depreciation as he can with respect to this purchase. From the information provided, calculate accumulated depreciation, and the depreciation deduction for 2021. Assume no bonus depreciation or section 179 expense was taken with respect to any asset purchased prior to 2021. *On June 15,2021,J Jim purchased an automobile that he used 60% for business and 40% for personal purposes. The cost of the automobile was $65,000. Jim would like to take as much depreciation as he can with respect to this purchase. From the information provided, calculate accumulated depreciation, and the depreciation deduction for 2021. Assume no bonus depreciation or section 179 expense was taken with respect to any asset purchased prior to 2021
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