On March 15, 2018, Helen purchased and placed in service a new’ Escalade. The purchase price was $62,000, and the vehicle had a rating of 6,500 GVW. The vehicle was used 100% for business.
a. Assuming that Helen does not use additional first-year depreciation, calculate the total depreciation deduction that she can take on the vehicle for 2018.
b. What w'ould your answer be if Helen decided to take additional first-year depreciation?