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Maxcom Incorporated purchased 15 passenger automobiles for use by its sales force. Which of the...

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Question

Accounting

Maxcom Incorporated purchased 15 passenger automobiles for use by its sales force. Which of the following statements is true?
Multiple Choice
Maxcom must use the straight-line method to depreciate the passenger automobiles for tax purposes.
Maxcom's annual tax depreciation on the passenger automobiles may be limited to an amount less than MACRS depreciation.
Maxcom's annual tax depreciation on the passenger automobiles is computed under MACRS.
Even though Maxcom purchased the automobiles for business use, Maxcom'ts not allowed any tax depreciation for the automobiles.
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