Noah converted his personal residence to rental property in 2022. He purchased the property in 2019 for $100,000, of which $15,000 was allocable to the land. On the date of conversion, an appraisal valued the property at $150,000; $22,500 was allocated to the land. Noah's basis for depreciation is: $85,000 $100,000 $127,500 $150,000