Calculate the depreciation deductions

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Reference no: EM133905718

Problem

Lina purchased a new car for use in her business during 2024. The auto was the only business asset she purchased during the year, and her business was extremely profitable. Calculate her maximum depreciation deductions (including §179 expense unless stated otherwise) for the automobile in 2024 and 2025 (Lina doesn't want to take bonus depreciation for 2024) in the following alternative scenarios (assuming half-year convention for all): (Use MACRS Table 1, Table 2, and Exhibit 10-10.) The vehicle cost $83,200, and she used it 80 percent for business. Get the instant assignment help. Calculate the depreciation deductions for 2024 and 2025.

Reference no: EM133905718

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