On February 15, 2013, Leo purchased and placed in service a new car that cost $23,750. The business use percentage for the car is always 100%. He does take the additional first-year depreciation.
Note: If required, round your answers to the nearest dollar.
a. What MACRS convention applies to the new car?
Select Half-year Mid-month Mid-quarter Item 1
b. Is the automobile considered "listed property"?
c. Leo's cost recovery deduction in 2013 is $ and for 2014 is $.