On May 5th, Sarah purchased a new office building for $2.5 million to use for rental purposes. After review of the appraisal, $100,000 was allocated to the value of the land. On November 3rd, she began leasing office space in the building. What is Sarah's depreciation deduction for the year? [Use the tables provided in class] $8,025 $7,704 $10,684 $10,256 Statutory Rate 0% 15% 20% 2020 Long-Term Capital Gains Tie Brackets Taxable income Ranges Married, Filing Single Married, Filing Jointly Separately Head of Household Qualifed Widower) $0 to $40,000 $0 to $80,000 $0 to $40.000 $0 to $53,800 50 to $80.000 $40,001 to $441,450 $80,001 to $496.600 $40,001 to $248,300 $53,601 to $469.050 $80,001 to $498.600 $441,451 and over $496.801 and over $248,301 and over $469,051 and over $496,601 and over Single 2020 . Taxable income But Not Over Over $9,895 9.875- 10,125 40,125 85.525 85,525 103.300 163.300 207,350 207350 518.400 518.400 Pay 30 $87.50 4.617.50 14.66.50 33.27150 47,367.50 156.235.00 Xon Exces 105 12 22 24 of the amount OVET 90 9875 10.125 65,525 162300 2017.350 512100 Married Filing Jointly 2020 of the amount OVET Son Excess 105 12 Taxable income But Not Over Over $0 $19.750 19.750 80.250 80.250 171,050 171,050 326.600 326.600 414,700 414.700 622050 622050- Pay $0 1.975.00 9.215.00 2921100 66,513.00 91,735.00 167,307.50 24 12 35 37 19,750 80.250 171.050 306,600 414,700 622,050 Table A-1. Year 20 year 3.750 1 3. 5, 7, 10, 15., and 20-Year Property Half-Year Convention Depreciation rate for recovery period year Syer 7-year 16- 15-ye 33.33 2000N 14.20 10. 5.00 32.00 20 18.00 3.0 1481 18.20 17.49 14.40 8.56 741 11.9 12.40 11.50 7.70 8.00 9.22 630 7:57 6.30 8.30 2:55 5.00 440 6.55 8.56 5:01 8.85 7210 6.07 6.177 5.713 ng S. 500 45 5.50 3.20 4.42 4:46 8.91 5.00 5.90 5.90 5.91 4.461 4400 === 2.95 4461 44 4.461 4.40 4.401 2.231 Table A- 23, 5, 7, 10, 15 and 20-Year Property Mid-Quarter Convention Placed in Service in First Quarter Depreciation for every pred Yew 10-year 15 year 00 25.00 17.50 3.75 27.70 20.00 16. 0.13 15.00 15.31 13.20 154 10.00 10.50 730 11.01 145 0.05 SEN 7.000 6.40 S. 5.540 1.30 8.74 875 130 6.76 8.55 5.00 5.91 50 591 8.130 4740 4.450 40 150 38 EUR - 5.00 1.30 5.91 640 LO 44 40 CASO ON 440 4450 40 LASO CAGO Page Publication 146 (2018)