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Teresa is a civil engineer who uses her automobile for business. Teresa drove her automobile a total of 14,960 miles during 2015, of which 85 percent was business mileage. The actual cost of gasoline, oil, depreciation, repairs, and insurance for the year was $8,467. a. How much is Teresa’s transportation deduction based on the standard mileage method? $ b. How much is Teresa’s transportation deduction based on the actual cost method? $ c. Which method should Teresa use to calculate her transportation deduction? Why?

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91814822

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