Solved: On may 15 2015 leo purchased and placed in service a new, Accounting Basics

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On may 15 2015 leo purchased and placed in service a new

Question - On May 15, 2015, Leo purchased and placed in service a new car that cost $27,000. The business use percentage for the car is always 100%. He does take the additional first-year depreciation.

If required, round your answers to the nearest dollar.

a. What MACRS convention applies to the new car?

b. Is the automobile considered "listed property"?

c. Leo's cost recovery deduction in 2015 is $11,160 and or 2016 is $.

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Accounting Basics: On may 15 2015 leo purchased and placed in service a new

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Accounting Basics: On may 15 2015 leo purchased and placed in service a new

Reference No:- TGS02398728

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