21. An apartment property has a mortgage of $250,000 and required a down payment of $35.000. The appraised value of the property was $175,000, of which $52,500 is for land and $122,500 is for improvements. The property was bought on January 1. What is the cost recovery for the year of acquisition? A. $5,300 B. $6,000 I C. $6,953 D. $4.900 22. You, the investor, purchase a property that has a projected net operating income of $12.000. The property ahs a mortgage of $95.000, a 5% interest rate; and monthly payments of $555.00. The cost recovery for the first year is $2.500. What is the taxable income for the first year? A. $4,794 B. $4,899 C $9,885 D $9,950