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Please help me! Thank you again chegg! 27 Bonnie Jo purchased a used camera (five-year property) for use in her sole proprietorship. The basis of

Please help me! Thank you again chegg!

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27 Bonnie Jo purchased a used camera (five-year property) for use in her sole proprietorship. The basis of the camera was $4,300. Bonnie Jo used the camera in her business 60 percent of the time and used it for personal purposes the rest of the time during the first year. Calculate Bonnie Jo's depreciation deduction during the first year, assuming the sole proprietorship had a loss during the year. (Bonnie did not place the property in service in the last quarter.) (Use MACRS Table 1.) Skipped Multiple Choice eBook $430. $516. $860. $4,300. Table 1 MACRS Half-Year Convention 20-Year 3.750% 7.219 6.677 17.70 6.177 6.93 Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Year 11 Depreciation Rate for Recovery Period 3-Year 5-Year 7-Year 10-Year | 15-Year 33.33% 33% 20.00% 20.00% 14.29% 14.29% 10.00% 10.00% 5.00% 44.45 32.00 24.49 18.00 9.50 14.81 19.20 17.49 14.40 8.55 7.41 11.52 12.49 11.52 11.52 8.93 9 .22 5.76 8.92 7.37 6.23 8.93 6.55 5.90 4.46 6.55 5.90 6.56 5.91 6.55 5.90 3.28 5.91 5.90 5.91 5.90 5.713 5.285 4.888 4.522 4.462 4.461 Year 12 Year 13 Year 14 Year 15 Year 16 4.462 4.461 4.462 4.461 4.462 4.461 5.91 2.95 Year 17 4.462 Year 18 Year 19 Year 20 Year 21 4.461 4.462 4.461 2.231 Potomac LLC purchased an automobile for $31,600 on August 5, 2019. What is Potomac's depreciation deduction for 2019? (Ignore any possible bonus depreciation.) (Use MACRS Table 1 and Exhibit 10-10.) 28 Skipped Multiple Choice eBook 0 $10,000 $4,516. o o $6,320. $31,600. Table 1 MACRS Half-Year Convention Year 1 3-Year 33.33% 44.45 15-Year 20-Year 5.00% 13.750% 9.50 7.219 Year 2 Year 3 14.81 8.55 6.677 Year 4 L 7.41 Year 5 Depreciation Rate for Recovery Period 5-Year 7-Year 10-Year 20.00% 14.29% 10.00% 32.00 18.00 19.20 17.49 14.40 11.52 11.52 11.52 8.93 9.22 5.76 8.92 7.37 8.93 6.55 4.46 6.55 6.56 6.55 | 3.28 3.28 | 7.70 6.93 6.23 5.90 5.90 5.91 5.90 5.91 6.177 5.713 5.285 4.888 4.522 4.462 4.461 Year 6 Year 7 Year 8 Year 9 Year 10 Year 11 Year 12 Year 13 Year 14 Year 15 Year 16 4.462 5.90 4.461 5.91 4.462 4.461 5.90 5.91 2.95 4.462 4.461 Year 17 4.462 Year 18 4.461 4.462 Year 19 Year 20 Year 21 4.461 2.231

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