QUESTION 14 The only asset Bill purchased during 2020 was a new seven-year class asset. The asset, which was listed property, was acquired on June 17 at a cost of $50,000. The asset was used 40% for business, 30% for the production of income, and the rest of the time for personal use. Bill always elects to expense the maximum amount under $ 179 whenever it is applicable. The net income from the business before the $ 179 deduction is $100,000. Determine Bill's maximum deduction with respect to the property for 2020. O a. $1,428 O b. $2,499 O c. $26,749 O d. $33,375 O e. None of the above QUESTION 15 On May 2, 2020, Karen placed in service a new sports utility vehicle that cost $60,000 and has a gross vehicle weight of 6,300 lbs. The vehicle is used 60% for business and 40% for personal use. Determine Karen's total cost recovery for 2020. Karen wants to use both $179 and additional first-year depreciation. O a. $7,200 ob. $25,000 O c. $27,200 O d. $36,000 O e. None of the above