6. Mike Brady purchased an apartment building on February 12, 2020, for a total of $3 million of which $800,000 was the value of the land on which the apartment building was located.

In addition, Mike purchased 7-year class new business equipment for $19,400 on October 11, 2020. He elects not to immediately expense the equipment under 179 and elects not to take the additional first-year depreciation.

Mike purchased no other business assets during 2020.

1. Determine Mikes depreciation on the apartment building for 2020.

b. Determine Mikes depreciation on the equipment for 2020.

c. If Mike sells the apartment building on October 1, 2027, how much depreciation deduction will Mike take for the apartment building for 2027?

d. If Mike sells the equipment on December 28, 2021, how much depreciation deduction will Mike take for the equipment for 2021?