Given the following information, calculate the annual depreciation for year 1. The purchase price is $1,250,000 for the office building. Acquisition fee is 2% of the purchase price. The percent allocated to land is 20%. Personal property is $100,000. Cost Recovery Period is 27 years for Residential and 39 years for Commercial:

$25,641

$23,590

$26,154

$23,077