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Diane purchased a factory building on April 15, 2015, for $15,000,000. She sells the factory building on February 2, 2018. a) Determine the cost recovery
Diane purchased a factory building on April 15, 2015, for $15,000,000. She sells the factory building on February 2, 2018.
a) Determine the cost recovery deduction for the year of the sale.
b) How would the answer change if the building was a residential apartment building?
c) What if the building was a hotel that is primarily rented to long-term tenants on a monthly basis?
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