Problem $8-10($Algorithmic$)$

Modified Accelerated Cost Recovery System $($MACRS$)$ and Bonus Depreciation, Election to Expense $($Section $179),$ Listed Property, Limitation on Depreciation of Luxury Automobiles $($LO $8\mathrm{.}2,8\mathrm{.}3,8\mathrm{.}4,8\mathrm{.}5)$

During $2023,$ Khan purchases the following capital assets for use in his catering business:

$\backslash$table$[[$New passenger automobile $($September $30),$$$64,000$