Please help with last question! Problem 8-45 (LO. 2, 4) On October...
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Accounting
Please help with last question!
Problem 8-45 (LO. 2, 4) On October 15, 2017, Jon purchased and placed in service a used car. The purchase price was $25,000. This was the only business use percentage method and does not claim any expense under 179 If required, round your answers to the nearest dollar. Click here to access Exhibit 8.5 of the textbook. Click here to access the limits for certain automobiles. a. Is the car eligible for additional first-year depreciation? b. What MACRS convention applies to the new car? Mid-quarter c. Is the automobile considered "listed property"? Yes d. Does the automobile satisfy the "predominantly used for business" definition? Yes e. The total cost recovery deduction Jon may take for 2017 with respect to the car is 2,528 X
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