Question: Original Cost is 32k. FMV at Conversion is $32k. Source is purchased from used car dealership for use in business. Using MACRS Rates- Half Year

Original Cost is 32k. FMV at Conversion is $32k. Source is purchased from used car dealership for use in business. Using MACRS Rates- Half Year Convention. What is the basis for depreciation and Year 1 Depreciation amount and what is the appropriate depreciation method?

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