Paola purchased an office building on January 5, 2015, for $450,000. $30,000 of the price was for the land. On September 25, 2017, he sold the office building. What is the cost recovery deduction for 2017 rounded to the nearest dollar?

Multiple Choice

$0.

$7,628.

$10,769.

$7,321.

.

.

The adjusted basis of an asset is:

Multiple Choice

The cost basis less any accumulated depreciation.

The fair market value of the asset.

The cost of the asset.

The trade-in value of the asset.