On August 2nd 2020 you purchase a residential rental property for $348,000. The building is estimated to be worth $286,000, and the land is worth $62,000. Depreciation is calculated using a MACRS approach for residential real property (27.5-year life). Therefore, the tax depreciation you can claim for year 2020 is $3900. (no need to show work for this question) True False Book Value in Year 2 is found by subtracting Salvage Value from the Cost Basis of an asset. (no need to show work for this question) True False You should accept a project that has a negative Net Present Value when the Internal Rate of Return (IRR) is positive. (no need to show work for this question) True False All things being equal in a project that has only positive cash flows after the initial investment, an increase in the Net Present Worth of the project generates an increased MARR. (no need to show work for this question) True False When you increase the number of units made from 6000 to 7000, the variable costs of $6000 go up to $7000. (no need to show work for this question) True O False