Business, 03.08.2021 18:40 reetajmahfouz3816

On June 1, 2020, Nico places in service a new automobile that cost $40,000. The car is used 60% for business and 40% for personal use. (Assume this percentage is maintained for the life of the car.) Nico does not take additional first-year depreciation. Determine the cost recovery deduction for 2020. a.$1,896 b.$4,800 c.$1,776 d.$6,000

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On June 1, 2020, Nico places in service a new automobile that cost $40,000. The car is used 60% for...

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