Problem 3-8 (Algorithmic) Modified Acc e d Cost Recovery System (ARS), Election to be haperty Limitation on Depreciation of Luxury Automobiles (LO 8.2, 83, 84, 85) During 2019, William purchase the following capital New passenger automobile (September 30) Baking ) for use in his catering business $62.200 150 which has year recovery Assume that will decides to use the section to expense on the baking i t and has the auction t o the one od and he was the MARS had to calculate depreciation but lets out of bonus depreciation. Assume he has adequate taxable income Click here to access the depreciation table and click here to see the depreciat i on Calculate William's maximum depreciation deduction for 2018. ming he uses the automobile 100 percent in a business