Homework Answers
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Ans:
Point- a & b is correct.
Point-c: Leo's cost recovery deduction in 2018 is $13,560 and for 2019 is $21,696.
Workings: Half-yearly MACRS number of a cost recovery year for the automobile is five (5) years. and the cost recovery rate is 20% for the 1st year and 32% for 2nd year.
Hence, cost recovery deduction for:
2018 = $67,800 X 20% = $13,560
2019 = $67,800 X 32% = $21,696
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