Problem 9-28 (Algorithmic) (LO. 2) On July 1, 2018, Brent purchases a new automobile for $43,000. He uses the car 90% for business and drives the car for business purposes as follows: 6,500 miles in 2018, 16,250 miles in 2019, 18,200 miles in 2020, and 13,000 miles in 2021. Determine Brent's basis in the business portion of the auto as of January 1, 2022, under the following assumptions: If required, round your computations to the nearest dollar. a. Brent uses the automatic mileage method. Compute his basis adjustments for depreciation for each year. Click here to access the basis adjustment table. 2018: S 2019: $ 2020: S 2021: $ 2018: $ 2019: $ 1,463 Brent's adjusted basis in the auto on January 1, 2022, is s 2020: S 3,803 X 2021: S 4,423 X b. Brent uses the actual cost method. [Assume that no 179 expensing is claimed and that 200% declining-balance cost recovery with the half-year convention is used. The recovery limitation for an auto placed in service in 2018 is as follows: $10,000 (first year), $16,000 (second year), $9,600 (third year), and $5,760 (fourth year).] Compute his depreciation deductions for year. Click here to access the depreciation table. 3,042 9,000 14,400 X 8,640 X 5,184 X 25,969 X Brent's adjusted basis in the auto on January 1, 2022, is $ 1.476 D

basic adjustment table:

2018:25cents

2019:25cents

2020:27cents

2021:26cents

2022:26cents

On July 1,2018, Brent purchases a new automobile for $43,000. He uses the car 90% for business and drives the car for business purposes as follows: 6,500 miles in 2018, 16,250 miles in 2019, 18,200 miles in 2020, and 13,000 miles in 2021. Determine Brent's basis in the business portion of the auto as of January 1, 2022, under the following assumptions: If required, round your computations to the nearest dollar. a. Brent uses the automatic mileage method. Compute his basis adjustments for depreciation for each year. Click here to access the basis adjustment table. Brent's adjusted basis in the auto on January 1, 2022, is $ x b. Brent uses the actual cost method. [Assume that no $179 expensing is daimed and that 200% declining-balance cost recovery with the half-year convention is used. The recovery limitation for an auto placed in service in 2018 is as follows: $10,000 (first year), $16,000 (second year), $9,600 (third year), and $5,760 (fourth year).] Compute his depreciation deductions for year. Click here to access the depreclation table. Brent's adjusted basis in the auto on January 1,2022 , is s