Theresa bought a car (5-year property) for $10,000 for her business on 1/3/2019. She used it 100%

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Theresa bought a car (5-year property) for $10,000 for her business on 1/3/2019. She used it 100% for her business. She sold it on 4/5/2021 for $12,000. Her depreciation for 2021 is

a. $1920

b. $960

c. $1152

Related Book For answer-question

Smith and Roberson Business Law

ISBN: 978-0538473637

15th Edition

Authors: Richard A. Mann, Barry S. Roberts

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Posted Date: May 16, 2022 08:53 PM

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Theresa bought a car (5-year property) for $10,000 for her business on 1/3/2019. She used it 100%

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Answer Step 1 Depreciation It is a noncash expense This is the decrease in the value of a f... View the full answer

Smith and Roberson Business Law

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