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A commercial property that produces an annual NOI of $ 1 3 8 , 0 5 6 was purchased for $ 1 , 2 0

A commercial property that produces an annual NOI of $138,056 was purchased for $1,202,422 on January 1. The improvements were worth 73 percent of the total purchase price. Debt service for the year was $91,522 of which $72,903 was interest and the remainder was principal. Calculate the annual depreciation and then determine the taxable income?
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