On November 30, 2017, Constance purchased an apartment building for $750,000 (assume this is the Depreciable Cost excluding any Land valuation). Determine her cost recovery deduction for 2017 rounded to the nearest dollar.

Multiple Choice

$2,400.

$3,413.

$0.

$26,138.

.

.

Which of the following is incorrect regarding luxury automobile limitations?

Multiple Choice

The luxury limitations do not apply to the Section 179 expense deduction.

The limits are reduced further if the business use is less than 100%.

Passenger autos with a gross weight of less than 6,000 pounds are subject to the limits.

Light trucks or vans that are less than 6,000 pounds are subject to the limits.