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TABLE 7.1 Recovery Periods for Tangible Business Assets TABLE 7.2 MACRS for Business Personalty (Half-Year Convention) In March 2022, Jones Company purchased a Mercedes for
TABLE 7.1 Recovery Periods for Tangible Business Assets TABLE 7.2 MACRS for Business Personalty (Half-Year Convention) In March 2022, Jones Company purchased a Mercedes for use in its business at a cost of $73,000. Required: Assuming no bonus depreciation or Section 179 deduction, calculate the allowable tax depreciation on this asset for 2022, 2023, and 2024. Use Table 7-1 and Table 7-2. Use the below table for annual depreciation deduction for year 2022 to 2025
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