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Teresa is a civil engineer who uses her automobile for business. Teresa drove her automobile a total of 14,800 miles during 2017, of which 75% was business mileage. The actual cost of gasoline, oil, depreciation, repairs, and insurance for the year was $7,832.

How much is Teresa's transportation deduction based on the standard mileage method?

How much is Teresa's transportation deduction based on the actual cost method?

Which method should Teresa use to calculate her transportation deduction?

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92863006

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