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On March 3, 2018, Matt purchased and placedinserviceabuildingcosting$12,000,000.Thebuildinghas10floors. The bottom floors are rented out to businesses. The top seven floors are residential apartments. The gross

On March 3, 2018, Matt purchased and placedinserviceabuildingcosting$12,000,000.Thebuildinghas10floors. The bottom floors are rented out to businesses. The top seven floors are residential apartments. The gross rents from the businesses are $60,000 and the gross rents from the apartments are $110,000. Determine Matt's cost recovery for the building in 2018.

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