Question 46 of 75 . Lydia converted her personal residence to rental property in 2022. She purchased the property in 2012 for $300,000 (including acquisition expenses), of which $75,000 was allocable to the land. She made no improvements. On the date of conversion, an appraisal valued the property at $235,000;$55,000 was allocated to the land. Lydia's basis for depreciation is $180,000$225,000$235,000$300,000