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a residential rental property is acquired during the first month of the taxable year, at a total cost (including transaction costs) of 1.2 million. Of
a residential rental property is acquired during the first month of the taxable year, at a total cost (including transaction costs) of 1.2 million. Of this amount, $200,000 is properly attributable to land. determine the annual depreciation allowance for the first year and for each of the ensuring nine years
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