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please explain and break down answer 38. LB Corporation purchased a business car in si June 2021 for $62,000. The car weighs 4,000 pounds and
please explain and break down answer
38. LB Corporation purchased a business car in si June 2021 for $62,000. The car weighs 4,000 pounds and will be used 100 percent of the On time in the business. Compute the largest tois depreciation deduction possible in 2021 and 2022. No other property purchases were made during the year. (Consider bonus depreciation and the Section 179 deduction, if applicable.) 39. Refer to the facts in Problem 38 and assume the business car purchased is an SUV weighing 8,000 pounds. Compute the largest depreciation deduction possible in 2021 and 2022. (Consider bonus depreciation and the Section 179 deduction, if applicable.) OR Step by Step Solution
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