Complete the statements below that outline how the limits on cost recovery apply to listed property.

If the listed property is predominantly used for business, the taxpayer is allowed to use the

straight$-$line methodstatutory percentage method

to recover the cost. In cases where the property is not predominantly used for business, the cost is recovered using the

straight$-$line methodstatutory percentage method

$.$ Furthermore, use of listed property for production of income

doesdoes not

qualify as business use for purposes of the

more$-$than$-80$ percentmore$-$than$-50$ percent

test. If the listed property is an automobile, the cost recovery

is not affected byis further limited by

the cost recovery limitations$.$