On July 17,2016,Kevin Places in Service a Used Automobile That

question 92

Multiple Choice

On July 17,2016,Kevin places in service a used automobile that cost $25,000.The car is used 80% for business and 20% for personal use.In 2017,he used the automobile 40% for business and 60% for personal use.Determine the cost recovery recapture for 2017.

• A)$0
• B)$528
• C)$2,000
• D)$2,500
• E)None of the above

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Definitions:

Client Groups

Specific categories of clients grouped together based on shared characteristics or needs within a professional context.

Mainstream Media

Widely disseminated media outlets, including television, radio, newspapers, and magazines, that reach a large audience.

Assumptions

Beliefs or ideas taken for granted without verification, often serving as a foundation for decision-making and behavior.

Stereotypes

Oversimplified generalized beliefs or assumptions about a group of people, ignoring individual differences.