On May 20 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 $1,337,000; $392,000 was allocated to the basis of the land and the remaining $945,000 was allocated to the basis of the building.

c. Answer the question in part (a), except assume the building was purchased and placed in service on January 14 instead of May 20.

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