Required information

Problem $10-65($LO $10-3)($Static$)$

$[$The following information applies to the questions displayed below.$]$

Phil owns a ranch business and uses four$-$wheelers to do much of his work. Occasionally, though, he and his boys will go

for a ride together as a family activity. During year $1,$ Phil put $765$ miles on the four$-$wheeler that he bought on January $15$

for $$6,500.$ Of the miles driven, only $175$ miles were for personal use. Assume four$-$wheelers qualify to be depreciated

according to the five$-$year MACRS schedule and the four$-$wheeler was the only asset Phil purchased this year. $($Use MACRS

Table $1,$ Table $2,$ Table $3,$ Table $4$ and Table $5.)$

Note: Do not round intermediate calculations. Round your final answers to the nearest whole dollar amount.

Problem $10-65$ Part a $($Static$)$

a$.$ Calculate the allowable depreciation for year $1($ignore the $179$ expense and bonus depreciation$).$