In July of 2017,Pat Acquired a New Automobile for $28,000

question 41

Multiple Choice

In July of 2017,Pat acquired a new automobile for $28,000 and used the automobile 80% for business.Pat can take a maximum depreciation deduction in 2017 of

• A)$8,928.
• B)$2,528.
• C)$22,400.
• D)$13,440.

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Definitions:

Political Corruption

The misuse of public power or position for personal gain, undermining the integrity and fairness of political processes.

Public Choice Theory

The economic analysis of government decision making, politics, and elections.

Government Failure

A situation where government intervention in the economy creates inefficiencies and leads to a misallocation of resources.

Unfunded Liability

Obligations or debts for which sufficient funds have not been set aside, particularly relevant in the context of pensions and benefits.