Question 38 (2.5 points) Given the following information, calculate the annual depreciation for year 1. The purchase price is $1,250,000 for the office building. Acquisition fee is 2% of the purchase price. The percent allocated to land is 20%. Personal property is $100,000. Cost Recovery Period is 27 years for Residential and 39 years for Commercial. $25,641 $23,077 $26,154 $23,718