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3. On April 3, 2015. Terry purchased and placed in service, an apartment building that cost $2,000,000. An appraisal determined that 20% of the total

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3. On April 3, 2015. Terry purchased and placed in service, an apartment building that cost $2,000,000. An appraisal determined that 20% of the total cost was attributed to the value of land. Terry sold the building on November 20, 2019 for $3,800,000 Required: Calculate: a. Cost Recovery deduction for 2015 b. Cost Recovery deduction for 2019 c. Total cost recovery deducted over the years Terry held the property d. Gain/loss on the sale

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