On February 26 of year 1 Javier purchased a building, including the land it was on, to assemble his new equipment. The total cost of the purchase was $1,406,000; $371,000 was allocated to the basis of the land and the remaining $1,035,000 was allocated to the basis of the building. (Use MACRS Table 1, Table 2, Table 3, Table 4 and Table 5.) (Do not round intermediate calculations. Round your answer to the nearest dollar amount.)

Using MACRS, what is Javiers depreciation expense on the building for years 1 through 3

What would be the year 3 depreciation expense if the building was sold on December 15 of year 3?

Answer the question in part (a), except assume that the building is residential property.