Arlington LLC purchased an automobile for $40,000 on July 5,2017.What is Arlington's depreciation expense for 2017 if its business use percentage is 75 percent (ignore any possible bonus depreciation)? Exhibit 10-8 in the text

Question

Arlington LLC purchased an automobile for $40,000 on July 5,2017.What is Arlington's depreciation expense for 2017 if its business use percentage is 75 percent (ignore any possible bonus depreciation)?  Exhibit 10-8 in the text

Quizplus · Accepted Answer

Depreciation expense = $40,000 x 75% x (6/12) = $2,370

Arlington LLC Purchased an Automobile for $40,000 on July 5,2017