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Crank
3 years ago
14

On June 1, 2019, Irene places in service a new automobile that cost $21,000. The car is used 70% for business and 30% for person

al use. (Assume this percentage is maintained for the life of the car.) She does not take additional first-year depreciation. Determine the cost recovery deduction for 2020. a.$4,704 b.$3,570 c.$10,100 d.$3,290
Business
1 answer:
worty [1.4K]3 years ago
4 0

Answer:

a.$4,704

Explanation:

Depreciation rate applicable for 2nd year as per MACRS 5 year class property = 32%

So, Irene cost recovery deduction = $21,000 * 32% * 70% = $4,704

Hence, the cost recovery deduction for Irene in 2020 is $4,704.

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The accounting benefit is nothing more than the difference between income and cost.  In this case it is still $50000.

The economic benefit includes not only explicit costs. The economic benefit is the difference between income and total costs (explicit and implicit). Therefore, this benefit is less than the accounting benefit. Because in this case the cost of working at home is considered.

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3 years ago
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3 years ago
In reviewing research on power, you discover that there are three other common sources of power in organizations. Which of the f
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A shareholder invested in a mutual fund and has signed a letter of intent to invest $25,000. Her original investment was $13,000
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Based on the information given for her to complete her letter, she must deposit D) $12,000.

<h3>Deposit:</h3>

Using this formula

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Where:

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Original investment=$13,000

Let plug in the formula

Deposited amount=$25,000-$13,000

Deposited amount=$12,000

Inconclusion for her to complete her letter, she must deposit D) $12,000.

Learn more deposit here:brainly.com/question/1752098

5 0
3 years ago
A firm has an equity beta of 1.2, the risk-free rate is 3.4 percent, the market return is 15.7 percent, and the pretax cost of d
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Answer:

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3 years ago
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