e d ou 40. LCD Corporation purchased residential real property for $385,000 (exclusive of land b cost) and placed it in service on August 16, 2019. Compute MACRS depreciation on the property for 2019 and 2020. 41. Refer to the facts in Problem 40 and assume the property purchased is nonresidential rental property. Compute MACRS depreciation on the property for 2019 and 2020, assuming at the property is not qualified leasehold band improvement, retail improvement or og restaurant property. 45. 49. For an individual taxpayer, expenses connected with rents and royalties are normally deducted: a. For AGI b. From AGI C. Either for or from AGI d. For AGI but limited to a maximum percentage amount 50. An ordinary trade or business expenditure is of one which is: a. Reasonable in amount b. Commonly incurred by other businesses C. Appropriate for a particular business d. Not a capital expenditure W . 51. A necessary trade or business expenditure is no one which is: 5a. Reasonable in amount b. Commonly incurred by other businesses c. Appropriate for a particular business old. Not a capital expenditure . 52. The maximum amount of capital Idano expenditures eligible for immediate expensing bonoz is: a. $3,500,000 b. $25,000 Soc. $1000,000 Sood. $2,500,000