Required information
Problem LO Static
The following information applies to the questions displayed below.
Phil owns a ranch business and uses fourwheelers to do much of his work. Occasionally, though, he and his boys will go
for a ride together as a family activity. During year Phil put miles on the fourwheeler that he bought on January
for $ Of the miles driven, only miles were for personal use. Assume fourwheelers qualify to be depreciated
according to the fiveyear MACRS schedule and the fourwheeler was the only asset Phil purchased this year. Use MACRS
Table Table Table Table and Table
Note: Do not round intermediate calculations. Round your final answers to the nearest whole dollar amount.
Problem Part a Static
a Calculate the allowable depreciation for year ignore the expense and bonus depreciation
