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(5 points) On July 8, 2016, Celtic corporation, a calendar year taxpayer, purchased an apartment building for $1,500,000, of which $250,000 was allocable to the

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(5 points) On July 8, 2016, Celtic corporation, a calendar year taxpayer, purchased an apartment building for $1,500,000, of which $250,000 was allocable to the land. On September 10, 2018, Celtic sells the building. Give the corporation's allowable depreciation deductions for the apartment building both for the year of purchase (2016) and for the year of sale (2018). 2

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