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On March 25 of year 1 Javier purchased an apartment building, including the land it was on. The total cost of the purchase was $1,300,000;
On March 25 of year 1 Javier purchased an apartment building, including the land it was on. The total cost of the purchase was $1,300,000; 10% was allocated to the basis of the land and the remaining 90% was allocated to the basis of the building. Using MACRS, what is Javiers depreciation expense on the building for year 3?
Hint: Use mid month convention
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