(2020) Logan purchased a rental home and lot for $150,000. Her expenses totaled $5,000. Lots in the area sell for approximately $10,000. What is Logan's basis for depreciation in the house? $140,000 $142,500 $144,667 $145,000 Mark for follow up $282,900 Mark for follow up Question 5 of 75. When Jim sent his daughter to college, he purchased a house near campus for $95,000. Empty lots in the area sold approximately $10,000 at the time. After she graduated, he decided to keep the house for use as a rental. The fair ma value at the time of the conversion was $160,000 and the price of the land had risen to $20,000. What is the basis for depreciation of the house? $85,000 $95,000 $105,000 ) $140,000 Mark for follow up