1. On March 1, 2004 Leo leases and places in service a passenger automobile. The lease will run for five years and the payments are $380 per month. During 2004, he uses his car 80% for business and 20% for personal activities. Assuming the dollar amount from the IRS table is $19, determine Leo's inclusion amount.
a. $0
b. $10
c. $13
d. $15
e. $19
Can someone help me with this question. Thanks!
