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please answer both, I need help. thank you. 4. An hotel compnay is purchasing a lot for $350k and plans to built a 5 -story
please answer both, I need help. thank you.
4. An hotel compnay is purchasing a lot for $350k and plans to built a 5 -story $8.5 million hotel on it. The furinute for equippingthis hotel is estimated at $750,000. They plan to put the hotel in service on May 10 th 2018 . Develop a depreciation table for this property (building furniture) for the first 7 calendar years of operation. 5. The same hotel company will sell the hotel on June 15 th 2025 with a sale price of $7.5 million. What will be their tax liability, assuming that they are in a 28% tax bracketStep by Step Solution
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