14, A residential property is acquired on the first day of the tax year for a purchase price of $300,000 plus acquisition costs of $15,000. The property is held for five years and sold on the last day of the tax year.

	Tax Assessment	Allocation Percentage	Basis Allocation
Land	$ 60,000	30%	$94,500
Improvements	+ $140,000	70%	$220,500
TOTAL Assessments	$200,000

a. What is the cost-recovery deduction for each full year of acquisition?

b. What is the annual cost-recovery deduction for each full year of ownership?

c. What is the cost-recovery deduction for the year of disposition?

d. What is the total cost recovery taken during the recovery period?