The Maximum Amount of Depreciation Including Bonus Depreciation on a Passenger

question 80

Multiple Choice

The maximum amount of depreciation including bonus depreciation on a passenger auto placed in service in 2019 is:

• A)$0
• B)$10,100
• C)$18,000
• D)$18,100

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Definitions:

Justifiably Relied

A principle where a party's action or decision is based on another's representations or promises, perceived as reasonable.

Representation

The act of standing in for or acting on behalf of others, or the presentation of information in a particular manner.

Detrimental Reliance

A legal term describing a situation where an individual suffers harm by relying on a promise or representation made by another.

Rescind

To revoke, cancel, or repeal a contract, agreement, or order.