New lab 020) sec. 01 Maryco Corporation purchased land, an office building, and furniture for $900,000. The appraised values are: land $430,000; building $450,000; and furniture $120,000. What is the Maryco's original basis for each asset under the FMV method? If Maryco had paid $1,015,000, what would the effect be on your answer? What are the per-determined recovery periods for the categories of assets according to MACRS? Answer 2 - III I! % 3