David acquired an automobile for $30,000 for use in his unincorporated business at the beginning of 2018 and used the standard mileage rate method in 2018. He plans to switch to the actual expense method for 2019. The automobile was used 25,000 miles in 2018. What is the amount of the adjusted basis of the automobile for purposes of computing depreciation in 2019?
A. $30,000
B. $23,750
C. $20,000
D. $16,625
Answer: B
You might also like to view...
Greenleaf includes in his definition of servant leadership ______.
A. being taken care of by the servant follower B. an emphasis on leaders first serving others C. the servant follower serving others first D. the servant follower serving the leader first
Suppose that a fast food restaurant wants the average line to be 4 customers and that 80 customers arrive each hour. How many minutes will the average customer be forced to wait in line?
What will be an ideal response?
Which component of the marketing mix involves advertising and hiring sales people?
A. Product B. Promotion C. Production D. Price E. Place
Relative to MNEs, purely domestic firms tend to have GREATER political risk
Indicate whether the statement is true or false.