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During 2023, Khan purchases the following capital assets for use in his catering business:
Line Item Description Amount
New passenger automobile (September 30) $66,000
Baking equipment (June 30) 10, 000
Assume that Khan decides to use the election to expense on the baking equipment (and has adequate taxable income to cover the deduction) but not on the automobile, and he also uses the MACRS accelerated method to calculate depreciation but elects out of bonus depreciation.
Calculate Khan's maximum depreciation deduction for 2023, assuming he uses the automobile 100 percent in his business.

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