In June of 2019 Frederick acquired an passenger automobile for $45,000 and used the automobile 85% for business. The...
In June of 2019 Frederick acquired an passenger automobile for $45,000 and used the automobile 85% for business. The maximum depreciation deduction for 2019 is:
|
$15,300 |
||
|
$18,000 |
||
|
$8,000 |
||
|
$10,000 |
Homework Answers
ANSWER:
OPTION: $8000
REASON:
In 2019, corporate tax rate is 21%
Therefore,
$45000 x 21% = $9450
And,
As the usage is 85%,
Maximum depreciation deduction = $9450 x 85%
= $8000
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