On March 1,2016,Lana leases and places in service a passenger automobile.The lease will run for five years and the payments are $500 per month.During 2016,she uses her car 60% for business and 40% for personal activities.Assuming the dollar amount from the IRS table for auto leases is $70,determine Lana's gross income attributable to the lease.
A)$0
B)$35
C)$59
D)$70
E)None of the above

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The Answer of On March 1,2016,Lana leases and places in service a passenger automobile.The lease will run for five years and the payments are $500 per month.During 2016,she uses her car 60% for business and 40% for personal activities.Assuming the dollar amount from the IRS table for auto leases is $70,determine Lana's gross income attributable to the lease.
A)$0
B)$35
C)$59
D)$70
E)None of the above

On March 1,2016,Lana Leases and Places in Service a Passenger