An hotel company is purchasing a lot for $350k and plans to built a 5-story $8.5 million hotel on it. The furniture for equipping this hotel is estimated at $750,000. They plan to put the hotel in service on May 10th 2018. Develop a depreciation table for this property (building+furniture) for the first 7 calendar years of operation.

The same hotel company will sell the hotel on June 15th 2025 with a sale price of $7.5 million. What will be their tax liability, assuming that they are in a 28% tax bracket?