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6. On May 11, 2020, Corp A purchased and placed in service an office building for $220,000, of which $30,000 was allocated to the land
6. On May 11, 2020, Corp A purchased and placed in service an office building for $220,000, of which $30,000 was allocated to the land on which the building was located. The building's salvage value was estimated to be $50,000. What amount will Corp. A deduct for depreciation on its 2020 federal income tax return, assuming that Corp. A reports on a calendar year? A. $ 3,590 B. 3,050 C. 3,530 D. 4,360 E. None of the above Do not assume that a taxpayer makes an IRC 179 election or uses bonus depreciation unless a problem so states. For each question you answer, insert in the appropriate space on the separate answer sheet the letter which indicates the correct response. Please note than all final answers have been rounded to the nearest $10
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