Multiple Choice
In 2016, a taxpayer purchases a new automobile (5 year recovery) for $56,000 for 100% use in her business. What is the total cost recovery assuming that the taxpayer does or does not elect bonus depreciation on the auto (half-year convention but no immediate expensing) ?
A) $11,200 with bonus and $3,160 without bonus
B) $11,160 with bonus and $11,200 without bonus
C) $11,160 with bonus and $3,160 without bonus
D) $8,000 with bonus and $3,160 without bonus
Correct Answer:
Verified
Correct Answer:
Verified
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