On January 2, 2020, you purchased for $950,000*** and placed in service a small 1950s-vintage office building. Its definitely showing its age but a report from your structural engineer states that it should last another 15 years before reaching the end of its useful life and having to be demolished.

*** You actually paid a total of $1.2M to the seller but properly allocated $250,000 to Mother Earth.

What is your 2020 MACRS depreciation deduction with respect to this building (not 179 or bonus depreciation)? Explain.