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Depreciation Stoney Creek, a 300-unit apartment complex in Perth Amboy, New Jersey, was purchased in 1999 for $12 million. Thirty percent of the purchase price

Depreciation Stoney Creek, a 300-unit apartment complex in Perth Amboy, New Jersey, was purchased in 1999 for $12 million. Thirty percent of the purchase price was allocated to land. How much depreciation should have been taken in 2010?

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