Essay
Norm purchases a new sports utility vehicle (SUV)on October 12,2014,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 2014.Compute the maximum deduction with respect to the SUV for 2014.Norm does take additional first- year depreciation (if available).
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