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FromTheMoon [43]
3 years ago
9

On june 1, 2017, james places in service a new automobile that cost $40,000. the car is used 60% for business and 40% for person

al use. (assume this percentage is maintained for the life of the car.) james does not take additional first-year depreciation. determine the cost recovery deduction for 2017.
Business
2 answers:
vova2212 [387]3 years ago
8 0
..,,......,,,.,,,..,.,,,,,,,.,m,,,,,,,,,,
Goshia [24]3 years ago
6 0
You should start with 100% if he is decreasing then subtract
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bonufazy [111]

Answer:

The statement is: True.

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In making business relationships, an agent acts as a third party that is legally authorized to establish businesses for one of the entities involved. The entity that uses the agent as an intermediary is called the principal. The agent must follow the principal's instructions avoiding to be biased by self-interest.

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