Problem $8-6($Algorithmic$)$

Modified Accelerated Cost Recovery System $($MACRS$)($LO $8\mathrm{.}2)$

On July $8,2022,$ Holly purchased a residential apartment building. The cost basis assigned to the building is $$260,300.$ Holly also owns another residential apartment

building that she purchased on July $15,2022,$ with a cost basis of $$182,000.$

Click here to access the depreciation tables.

If required, round intermediate calculations and final answers to nearest dollar.

a$.$ Calculate Holly's total depreciation deduction for the apartments for $2022$ using MACRS.

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b$.$ Calculate Holly's total depreciation deduction for the apartments for $2023$ using MACRS.

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