Stephen purchased a 2017 Toyota Camry on 2 July 2021 for $46,000. He financed the full price of the vehicle and borrowed $9,000 extra to pay off his credit card   What will the interest apportionment percentage be?   0%   76.99%   54.90%   68.01%   83.64%

CONCEPTS IN FED.TAX.,2020-W/ACCESS
20th Edition
ISBN:9780357110362
Author:Murphy
Publisher:Murphy
Chapter6: Business Expenses
Section: Chapter Questions
Problem 75IIP
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Stephen purchased a 2017 Toyota Camry on 2 July 2021 for $46,000. He financed the full price of the vehicle and borrowed $9,000 extra to pay off his credit card

 

What will the interest apportionment percentage be?

 

0%

 

76.99%

 

54.90%

 

68.01%

 

83.64%

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