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On March 15, 2013, Helen purchased and placed in service a new Escalade. The purchase price was $62,000, and the vehicle had a rating of
On March 15, 2013, Helen purchased and placed in service a new Escalade. The purchase price was $62,000, and the vehicle had a rating of 6,500 GVW. The vehicle was used 100% for business. a. Calculate the maximum total deduction Helen may take with respect to the vehicle in 2013. b. How would your answer above change if Helen elected not to take additional first-year depreciation?
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Financial Accounting Information for Decisions
Authors: John Wild
7th edition
78025893, 978-0078025891
