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What is Simon Corporation adjusted basis

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Question - On June, 20, 2019, Simon Corporation (a calendar-year corporation) purchased and placed in service a new automobile costing $69,000. This vehicle is used 100% for business. Simon makes whatever elections are necessary to maximize its overall depreciation deduction for the year of acquisition. What is Simon Corporation's adjusted basis for the automobile at the end of 2021?

a. $0

b. $18,640

c. $25,100

d. $34,800

Reference no: EM133057919

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