Mr. Briggs purchased an apartment complex on January 10, 2013 for $2 million with 10% of the price allocated to land. He sells the complex on Ocotbe 22, 2015 for $2.5 miilion . Assume that 10% of the $2.5 Million selling price is allocated to land and 90% is allocated tothe building.

a. How much depreciation was allowed for 2013?

b. How much depreciation is allowed for 2015?

c. Will any of the gain be ordinary income?

d. What is the amount of gain and the character fo thegain on the sale of the building?

e. Waht is the amount of gain and the character of the gain on the sale of the land?

f. Will any of the gain be taxed at 25%?