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​Max Purchases a New Auto in 2016 at a Cost

question 98

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​Max purchases a new auto in 2016 at a cost of $56,000. He uses the car 80% for business. Assuming a half-year convention, bonus depreciation but no immediate expensing, what is the depreciation deduction on the auto?


Definitions:

College Income

The earnings received from work or investments by someone who is attending college or the revenue generated by colleges through tuition, donations, and grants.

Cross-Price Elasticity

A measure indicating how the demand for one product changes in response to a price change of another product.

Digital College Textbooks

Digital college textbooks are electronically formatted texts that can be accessed on computers or electronic devices, offering a modern alternative to traditional printed textbooks.

Supply Elasticity

This measures the responsiveness of the quantity supplied of a good or service to a change in its price.

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