David Acquired an Automobile for $30,000 for Use in His

question 147

Multiple Choice

David acquired an automobile for $30,000 for use in his unincorporated business at the beginning of 2015 and used the standard mileage rate method in 2015.He plans to switch to the actual expense method for 2016.The automobile was used 25,000 miles in 2015.What is the amount of the adjusted basis of the automobile for purposes of computing depreciation in 2016?

• A)$30,000
• B)$15,625
• C)$24,000
• D)$20,000

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Definitions:

Patterns of Growth

The typical progressions or changes in size, shape, and function that an organism undergoes from infancy through adulthood.

Rate of Growth

The speed at which a certain quantity, such as an organism or economy, increases over a specific period of time.

Nutritional Studies

The scientific research and analysis of how food and nutrition impact health, disease, development, and performance.

Developed Nations

Countries with relatively high levels of industrialization, income per capita, and standards of living.