Penny owns her own business and drives her car 12,000 miles a year for business and 3,000 miles a year for commuting and personal use. She wants to claim the largest tax deduction possible for the business use of her car. Her total expenses related to her auto for 2020 are as follows: $4,050 720 Gas, oil, and maintenance Insurance Interest on car loan Depreciation License Parking fees and tolls (100% business) 500 2,960 80 130 Penny's total deduction for the business use of the auto in 2020 is: O, 39,000 Ob. 56.77 Oc56,34 d. 57,430 Oe. $6.900 Which of the following losses are generally deductible? I. Loss on the sale of a personal residence II. Loss due to the theft of business inventory Oa. Only statement I is correct. Ob. Only statement II is correct. Oc. Both statements are correct. Od. None of the two statements is correct