On June 1,2016,James 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. )James does not take additional first-year depreciation (if available).Determine the cost recovery deduction for 2016.
A)$1,776
B)$1,896
C)$4,800
D)$8,000
E)None of the above

Question

Quizplus · Accepted Answer

The Answer of On June 1,2016,James 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. )James does not take additional first-year depreciation (if available).Determine the cost recovery deduction for 2016.
A)$1,776
B)$1,896
C)$4,800
D)$8,000
E)None of the above

On June 1,2016,James Places in Service a New Automobile That