Problem $8-12$

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

On September $14,2023,$ Yun purchased a passenger automobile that is used $75$ percent in his business. The automobile has a basis for depreciation purposes of $$48,000,$ and Yun uses the accelerated method under MACRS. Yun does not elect to expense under section $179.$

Click here to access the depreciation table and click here to access the annual automobile depreciation limitations$.$

Calculate Yun's depreciation deduction for $2023$ assuming bonus depreciation.