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Rafael bought an apartment building on March 27th for use as rental property at a cost of $2,000,000 (exclusive of the cost allocated to the
Rafael bought an apartment building on March 27th for use as rental property at a cost of $2,000,000 (exclusive of the cost allocated to the land). He sells the building on November 3rd of the 8th year. What is Rafael's cost recovery deduction on the building in the year he sells it if he elects regular MACRS depreciation allowable on the building? Group of answer choices $66,660 $44,870 $72,740 $69,690 $63,630. Please show the calculations??
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