A Limitation Exists on the Annual Amount of Deductible Depreciation

Multiple Choice

A limitation exists on the annual amount of deductible depreciation for passenger automobiles. The limitation rules include which of the following?
I.If the automobile is used less than 100% for business, the annual limitation amount is reduced by multiplying it by the business-use percentage.
II.Section 179 expensing is available for passenger automobiles, but often is not advantageous.
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A) Only statement I is correct.
B) Only statement II is correct.
C) Both statements are correct.
D) Neither statement is correct.