On June 1, 2012, Norm Leases a Taxi and Places

question 80

Multiple Choice

On June 1, 2012, Norm leases a taxi and places it in service.The lease payments are $1,000 per month.Assuming the dollar amount from the IRS table is $241, determine Norm's inclusion amount.

• A)$0.
• B)$241.
• C)$907.
• D)$1,687.
• E)None of the above.

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