Essay
Norm purchases a new SUV on October 12, 2019, for $60,000.The SUV has a gross vehicle weight of 6,200 lbs.It is used 100% of the time for business and it is the only business asset acquired by Norm during 2019.Compute the maximum deduction with respect to the SUV for 2019.Norm does not take additional first-year depreciation.
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