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Problem 10-67 (LO 10-3) (Static) [The following information applies to the questions displayed below.] Lina...

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imageimageimage Problem 10-67 (LO 10-3) (Static) [The following information applies to the questions displayed below.] Lina purchased a new car for use in her business during 2023. The auto was the only business asset she purchased during the year, and her business was extremely profitable. Calculate her maximum depreciation deductions (including $179 expense unless stated otherwise) for the automobile in 2023 and 2024 (Lina doesn't want to take bonus depreciation for 2023 or 2024) in the following alternative scenarios (assuming half-year convention for all): (Use MACRS Table 1 , Table 2, and Exhibit 10-10.) Problem 10-67 Part b (Static) b. The vehicle cost $80,000, and business use is 100 percent. TABLE 2b MACRS Mid-Quarter Convention: For property placed in service during the second quarter TABLE 2c MACRS Mid-Quarter Convention: For property placed in service during the third quarter TABLE 2d MACRS-Mid Quarter Convention: For property placed in service during the fourth quarter EXHIBIT 10-10 Automobile Depreciation Limits $8,000 additional depreciation is allowed when bomus depreciation is claimed [\$168(k)(2)(F)]. Table 1 MACRS Half-Year Convention

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