If Carol, in June 2021, purchases a Ford Explorer (an SUV with GVW > 6,000 pounds and < 14,000 pounds) for $58,360, what is the maximum amount that Carol may deduct in 2021? Carol plans to drive the Explorer 100% of the time for business. Assume that no other assets will be purchased in 2021. Carol elects to take the additional first-year depreciation.

Answer rating: 100% (QA)

Step 11 Assuming that the Ford Explorer is used 100 for business purposes Carol may deduct the full ... View the full answer