Art is a self-employed installer of home entertainment systems, and he drives his car frequently to installation locations. Art drove his car 16,600 miles for business purposes and 23,000 miles in total. His actual expenses, including depreciation, for operating the auto are $9,425 since he had to have the car repaired several times. Art has always used the actual cost method in the past. How much is art's deductible auto expense for the year? Round any interim division calculations to five decimal places. Round the final answer to the nearest dollar.
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Art is a self-employed installer of home entertainment systems, and he drives his car frequently to installation locations. Art drove his ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
Barry and his wife, Mary, have accumulated over $4.1 million during their 50 years of marriage. They have three children and four grandchildren.
Answers (1)
In-process research and development acquired in a business combination is Select one: A. credited to the Equity Investment account. B. recorded as indefinite-lived intangible assets, subject to amortization. C.
Answers (1)
Under U. S. GAAP, what is the present value of all future retirement payments attributed by the pension benefit formula to employee services rendered prior to that date and based on past and current compensation levels only A. Service cost. B.
Answers (1)
Consider a taxi station where taxis and customers arrive in accordance with Poisson processes with respective rates of one and two per minute. A taxi will wait no matter how many other taxis are present.
Answers (1)
A credit card issuer charges an APR of 15.77%, and it's billing cycle is 30 days long. what is it's periodic interest rate
Answers (1)
New Questions in Business
If you accept a job as a domestic security analyst for a brokerage firm, you are most likely working in which one of the following financial areas? international financeprivate placementscorporate financecapital managementinvestments
Answers (1)
On January 1, a company issues bonds dated January 1 with a par value of $310,000. The bonds mature in 5 years. The contract rate is 11%, and interest is paid semiannually on June 30 and December 31.
Answers (1)
Aves Treats, Inc. produces bird seeds. All direct materials used in the production process are added at the beginning of the manufacturing process. Labor and overhead are added evenly thereafter, as each unit is mixed and packaged.
Answers (1)
Employees earn vacation pay at the rate of one day per month. during the month of july, 32 employees qualify for one vacation day each. their average daily wage is $107 per day.
Answers (1)
The primary purpose of a pull strategy is to
Answers (1)