Patrick Purchased a Used Passenger Automobile on June 1, 2018

question 6

Essay

Patrick purchased a used passenger automobile on June 1, 2018.He paid $19,000 for the automobile.During 2018, he uses the automobile 75 percent of the time for business.Patrick wishes to claim the maximum amount of depreciation possible (no bonus depreciation or election to expense).
a.Calculate Patrick's depreciation expense on the automobile for 2018.
b.​Calculate Patrick's depreciation expense on the automobile for 2019, assuming the same 75 percent business use.

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Definitions:

Employment Discrimination

Unequal treatment of people on the basis of their race, gender, or religion, restricting their employment and earnings opportunities compared with others of similar productivity. Employment discrimination may stem from the prejudices of employers, customers, fellow employees, or all three.

Economic Theory

A set of definitions, postulates, and principles assembled in a manner that makes clear the “cause-and-effect” relationships.

Production Costs

The total expenses incurred in the manufacture of a product, including labor, materials, and overheads.

Personal Prejudices

Biases or preconceived opinions that individuals hold, which affect their attitudes, actions, and perceptions about other people or situations.