Gabby purchased an old run-down warehouse property in 2019 for $2,000,000 $400,000 of this purchase price represents land, and $1,600,000 represents the building. During 2019 and early 2020, Gabby renovated and made improvements to the building totaling $ 800,000 (all of these improvements were to the building, there were no improvements to the land). After these improvements were made, on 5/30/20 Gabby placed this asset in service as a luxury office building How much MACRS depreciation will Gabby claim in 2020? $54552 $38.520 $61.556 $25.680 587264 Previous