Problem NO: 29

Tamika Meer purchased a new car for use in her business during 2024 for $75,000. The auto was the only business asset she purchased during the year, a

Tamika Meer purchased a new car for use in her business during 2024 for $75,000. The auto was the only business asset she purchased during the year, and her business was very profitable. Calculate Tamika’s maximum depreciation deductions for the automobile in 2024 and 2025 under the following scenarios:

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a. Tamika does not want to take §179 expense and she elects out of bonus depreciation.

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b. Tamika wants to maximize her 2024 depreciation using bonus depreciation.

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