Question
On May 6 of year 1, Javier purchased a building, including the land it was on, to assemble his new equipment. The total cost of
On May 6 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 $1,448,500; $306,000 was allocated to the basis of the land and the remaining $1,142,500 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 answers to the nearest whole dollar amount.)
Problem 10-51 Part e (Algo)
e. What would be the depreciation for 2020, 2021, and 2022 if the property were nonresidential property purchased and placed in service May 6, 2003 (assume the same original basis)?
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