james, a self-employed consultant, drove her car 18,000 miles for business and 6,000 miles for...
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Accounting
james, a self-employed consultant, drove her car 18,000 miles for business and 6,000 miles for personal purposes in 2020. Expenses related to her use of the car are shown below.
| Gas, oil, and repairs | $5,000 |
| Insurance | 2,500 |
| Interest on car loan | 2,000 |
| Depreciation | 5,100 |
| Parking fees (entirely for business) | 100 |
If James elects to use the actual method, what is the amount of her allowable automobile deduction for 2020?
$10,950
$11,025
$11,050
$11,310
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