Question: On July 1 5 , 2 0 2 3 , Leo purchased and placed in service a new car that cost $ 6 1 ,

On July 15,2023, Leo purchased and placed in service a new car that cost $61,000. The business use percentage for the car is always 100%. He does not elect 179 expensing, and does not claim any available additional first-year depreciation.
If required, round your answers to the nearest dollar.
Click here to access thedepreciation tableof the textbook. Click here to access thelimits for certain automobiles.
a.What MACRS convention applies to the new car?
Half-yearMid-monthMid-quarter
b.Is the automobile considered "listed property"?
YesNo
c.Leo's cost recovery deduction in 2023 is $fill in the blank 3 and for 2024 is $fill in the blank 4.

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