Essay
Patrick purchased a used passenger automobile on June 1, 2014. He paid $18,000 for the automobile. During 2014, he uses the automobile 75 percent of the time for business. Patrick wishes to claim the maximum amount of depreciation possible.
a.Calculate Patrick's depreciation expense on the automobile for 2014.
b.Calculate Patrick's depreciation expense on the automobile for 2015, assuming the same 75 percent business use.
Correct Answer:
Verified
Correct Answer:
Verified
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