On January 1, 2020, Mr. Long purchased and placed in service a passenger automobile that...
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Accounting
On January 1, 2020, Mr. Long purchased and placed in service a passenger automobile that cost $10,000 and qualified as a 100% business vehicle. Long did not elect a Sec. 179 deduction but did make the election to use the alternative MACRS depreciation system. What is Mr. Longs allowable MACRS deduction for 2020?
A.$3,334
B.$2,000
C.$1,000
D.$3,160
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