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

question 14

Multiple Choice

David acquired an automobile for $30,000 for use in his unincorporated business at the beginning of 2019 and used the standard mileage rate method in 2019.He plans to switch to the actual expense method for 2020.The automobile was used 25,000 miles for business purposes in 2019.What is the amount of the adjusted basis of the automobile for purposes of computing depreciation in 2020?

• A)$30,000
• B)$16,625
• C)$23,500
• D)$23,750

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Definitions:

Sexual Privilege

The advantages or rights implicitly granted to individuals based on their perceived or actual sexual orientation, often favoring heterosexuals.

Reputational Risk

The potential loss or damage to the standing or esteem of an individual or organization due to negative public perception.

Classy Image

A concept referring to a sophisticated and elegant appearance or style often associated with high social status or quality.

Binary Thinking

The classification of concepts, beliefs, and entities into two opposing categories, often ignoring the existence of intermediate or alternative categories.