Research Problem 3. Juan owns a business that acquires exotic automobiles that are high-tech, state-of-the-art vehicles with

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Research Problem 3. Juan owns a business that acquires exotic automobiles that are high-tech, state-of-the-art vehicles with unique design features or equipment. The exotic automobiles are not licensed, nor are they set up to be used on the road.

Rather, the cars are used exclusively for car shows or related promotional photography.

With respect to the exotic automobiles, can Juan take a cost recovery deduction on his Federal income tax return? Prepare an outline for your classmates addressing this issue.

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