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14 July, 21:13

In 2019, RayeAnn acquires a car for $14,000. She uses the car in her advertising business and for personal purposes. Her records indicate the car is used 70% for business and that her total annual operating expenses, including depreciation, are $3,800.

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  1. 15 July, 00:47
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    Deductible depreciation = $2,660

    Explanation:

    Given:

    Amount of car = $14,000

    Personal use = 30%

    Business use = 70%

    Total depreciation = $3,800

    Deductible depreciation = ?

    Computation of Deductible depreciation:

    Deductible depreciation = Total depreciation * Business use percentage

    Deductible depreciation = $3,800 * 70%

    Deductible depreciation = $2,660
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