In February 2019,Pietra Acquired a New Automobile for $82,000 and Used

question 72

Multiple Choice

In February 2019,Pietra acquired a new automobile for $82,000 and used the automobile 80% for business.In 2020 her business use of the auto was 70%.Pietra's depreciation deduction for 2020 will be

• A)$11,270.
• B)$18,368.
• C)$12,670.
• D)$4,032.

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Definitions:

Ordinary Course

A term used in business and law to refer to the normal conduct of business and operations.

Clear Title

A title to property or assets that is free of liens, disputes, or legal questions, ensuring unobstructed ownership.

Good Faith Purchaser

A Good Faith Purchaser is someone who buys property without knowledge of any existing claims or encumbrances against it, thus acquiring legal rights to the property.

Voidable Title

A legal term referring to a situation where a transfer of title to property can be invalidated due to certain circumstances, such as fraud or misrepresentation, giving the affected party the right to void the transaction.