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Phil owns a ranch business and uses four-wheelers to do much of his work. Occasionally, though, he and his boys will go for a ride
Phil owns a ranch business and uses four-wheelers to do much of his work. Occasionally, though, he and his boys will go for a ride together as a family activity. During year 1. Phil put 9 miles on the four- wheeler that he bought on January 15 for $9.600. Of the miles driven, only 239 miles were for personal use. Assume four-wheelers qualify to be depreciated according to the five-year MACRS schedule and the four-wheeler was the only asset Phil purchased this year (Use MACRS Iable1. Iable 2. Ia ble 3, Iable 4 and Iable 5. (Do not round intermediate calculations. Round your final answers to the nearest whole dollar amount)
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