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On May 2, 2022, Imani placed in service a new sports utility vehicle that cost $60,000 and has a gross vehicle weight of 6,300 lbs.
On May 2, 2022, Imani placed in service a new sports utility vehicle that cost $60,000 and has a gross vehicle weight of 6,300 lbs. The vehicle is used 60% for business and 40% per personal use. Determine Imani's total cost recovery for 2022. Imani wants to use both s.s.179 and additional first-year depreciation.
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