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A used $35,000 automobile that is used 100% for business is placed in service in 2016.If the automobile fails the 50% business usage test in the second year,no cost recovery will be recaptured.
Revenue
The total amount of money generated by the sale of goods or services related to a company's primary operations.
Variable Costs
Expenses that fluctuate with the level of output or activity, in contrast to fixed costs which remain constant.
Fixed Costs
Costs that do not vary with the level of production or sales, such as rent, salaries, and insurance.
Profit
The financial gain made in a transaction or business operation, calculated as the excess of revenue over expenses.
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