On June $1,2022,$ Leo purchased and placed in service a new car that cost $$59,200.$ 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.Problem $8-42($Algorithmic$)($L$0.4)$

On June $1,2022,$ Leo purchased and placed in service a new car that cost $$59,200.$ 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 the depreciation table of the textbook. Click here to access the limits for certain automobiles.

a$.$ What MACRS convention applies to the new car?

$!$

b$.$ Is the automobile considered "listed property"?

$$

c$.$ Leo's cost recovery deduction in $2022$ is &

$$ and for $2023$ is $

$x.$

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Assets used in a trade or business or for the production of income are eligible for cost recovery if they are subject to wear and tear, decay or

decline from natural causes, or obsolescence. Limits exist on cost recovery deductions for automobiles and other listed property that are used for

both personal and business purposes.

If required, round your answers to the nearest dollar.

Click here to access the depreciation table of the textbook. Click here to access the limits for certain automobiles.

a$.$ What MACRS convention applies to the new car?

Half$-$year

b$.$ Is the automobile considered "listed property"?

Yes

c$.$ Leo's cost recovery deduction in $2022$ is $fill in the blank $3$

and for $2023$ is $fill in the blank $4$