Problem $8-30($Algorithmic$)($L$0.1,2)$

In $2020,$ Jos$$ purchased a house for $$263,000.$ He used the house as his personal residence. In May $2023,$ when the fair market value of the house was $$358,600,$ he converted the house to rental property.

If required, round your answers to the nearest dollar.

Click here to access depreciation tables in the textbook.

a$.$ Jos$\text{'}$s basis for cost recovery for the property is $$,.$

b$.$ Under MACRS, the cost recovery period for residential rental real estate is ${27\mathrm{.}5}_{}$ years, and it is subject to the mid$-$month $$ convention.

c$.$ The cost recovery for $2023$ is $

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