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ion 8-TAX DEPRECIATION OF PASSENGER CARS AND OTHER VEHICLES L.V If a used SUV purchased in 2012 costs $50,000 and weighs 5,800 pounds, the maximum depreciation expense that can be taken is: a. $3,160 b. $3,360 c. $25,000 d. $50,000 2.V If a new SUV that costs $50,000 and weighing 6,500 pounds is placed in service in 2012, the maximum Section 179 expense that can be taken is: a. $0 b. $10,960 c. $25,000 d. $50,000 3. If a new passenger auto that costs $50,000 and weighs 5,000 pounds is placed in service in 2012, the maximum depreciation that can be taken is: a. $0 b. $11,160 c. $25,000 d. $50,000 Under MACRS, the recovery period for a passenger auto is a. 3 years b. 4 years c. 5 years d. 7 years
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Answers are highlighted in yellow: Solution: All 4 are indvidual questions, although all have been answered:) Explanation: t is standardized by IRS for a Used Light suvs. Answer: 1) b. $3,360. 2) 3) It is standardized by IRS for a New Heavy suvs. c. $25,000 b.$11,160 It is standardized by IRS for a New auto cars. (3160-8000)- 11160 4) c. 5 years. It is standardized by IRS for all automobiles.

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