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Calculate the percentage of the truck expense

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Reference no: EM132947932

Question - A person owns a food delivery company that serves several grocery stores in the local community. On his tax forms from last year, he reported a truck expense of $2,971.50 for his business. This amount was based on the truck expenses listed below.

Expense Amount Insurance $2,000

Lease Payments $1,450

Repairs $4,500 Tires $500

Oil Change $40

How to calculate the percentage of the truck expense that was for business purposes?

Reference no: EM132947932

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