On January l, Grace leases and places into service an automobile with a FMV of $61,000. The business use of the automobile is 60%. The "inclusion amount" for the initial year of the lease from the IRS tables is $30. The annual lease payments are $11,000. What are the tax consequences of this lease?
A. deduction for lease payments of $6,600
B. deduction for lease payments of $6,570
C. deduction for lease payments of $6,582
D. deduction for lease payment of $6,630
Answer: C
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