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On May 15 of year 1 Javier purchased a building, including the land it was on, to assemble his new equipment. The total cost of
On May 15 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 $1,344,000; $364,000 was allocated to the basis of the land and the remaining $980,000 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.)
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