Question: 1 / On June 1 7 , 2 0 2 3 , Travis purchased a passenger automobile at a cost of $ 5 8 ,
On June Travis purchased a passenger automobile at a cost of $ The automobile is used percent for qualified business use and percent for personal purposes. Click here to access the depreciation table and click here to access the annual automobile depreciation limitations Calculate the depreciation expense with bonus depreciation for the automobile for and assuming halfyear convention and no Section immediate expensing for
On June Chang purchases $ of equipment sevenyear property for use in their business. It is their only purchase of business property in Chang has taxable income from their business of $ million before any cost recovery.
Click here to access depreciation Table If required, round your answers to the nearest dollar.
a Assuming Chang does not elect Section and elects out of bonus depreciation, what is their total cost recovery?
b Assuming Chang elects the maximum Section deduction allowable and elects out of bonus depreciation, what is their total cost recovery?
c Assuming Chang elects the maximum Section deduction allowable and does not elect out of bonus depreciation, what is their total cost recovery?
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