Jabari Johnson is considering acquiring an automobile at the beginning of 2020 that he will use 100% of the time as a taxi. The purchase price of the automobile is $48,000. Johnson has heard of cost recovery limits on automobiles and wants to know how much of the $48,000 he can deduct in the first year. Write a letter to Jabari in which you present your calculations. Also prepare a memo for the tax files, summarizing your analysis. Johnson’s address is 100 Morningside, Clinton, MS 39058.