Core Inc, buys a luxury car for business and personal use at cost of $65,000...
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Accounting
Core Inc, buys a luxury car for business and personal use at cost of $65,000 in the current year. Assume there is inflation after 2019. See 289F(d)(7)). a.Compute maximum depreciation deductions available to Core inc.,, assuming 168(k) applies and there is no personal usage of car. b.What results to Core inc., under the facts of (a), above, if the car is used for business purposes the following percentages of the time in the following years; year 1- 70%; year 2- 80%; year three 70%; year 4 and later 60% each year. c.What general results (DO NOT COMPUTE), to Core Inc., in (b), above, if in years 4 and following the car is used only 50% for business use?
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