Question
6.On November 10 of year 1 Javier purchased a building, including the land it was on, to assemble his new equipment. The total cost of
6.On November 10 of year 1 Javier purchased a building, including the land it was on, to assemble his new equipment. The total cost of the purchase was $1,300,000; 20% was allocated to the basis of the land and the remaining 80% was allocated to the basis of the building. Using MACRS, what is Javiers depreciation expense on the building for year 2?
7.On March 25 of year 1 Javier purchased an apartment building, including the land it was on. The total cost of the purchase was $1,300,000; 20% was allocated to the basis of the land and the remaining 80% was allocated to the basis of the building. Using MACRS, what is Javiers depreciation expense on the building for year 3?
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