Problem 5-46 (LO. 8) On June 5, 2020, Leo purchased and placed in service a new car that cost $75,000. The business use percentage for the car is always 100%. Leo does not claim any available additional first-year depreciation or any 5 179. If required, round your answers to the nearest dollar. Click here to access the depreciation table to use for this problem. Click here to access the limits for certain automobiles. a. What MACRS convention applies to the new car? Half-year b. Is the automobile considered "listed property"? Yes c. Leo's deduction in 2020 is $ and for 2021 is $ Date Placed Fourth and in Service First Year Second Year Third Year Later Years 2019-2020 $10,100 $16,100 $9,700 $5,760 2018 $10,000 $16,000 $9,600 $5,760 2012-2017 3,160 5,100 3,050 1,875 *The TCJA of 2017 significantly increased the annual limitations beginning in 2018. Because the 2021 Indexed amounts were not available when we published, the 2020 amounts are used in the Examples and end-of-chapter problem materials