Realty Income Ltd. is a young company, established with the intent of earning rental income from apartment complexes. The Company is owned by Jeff Hault. During the most recent year, the Company built a 24-unit apartment complex. The construction commenced on March 1, and was completed by December 31, 2013 (yearend). The following is a detailed break-down of the construction costs incurred (it is safe to assume that the costs were incurred evenly throughout the year):

Appliances Asphalt Driveway Building permit fees Cabinets and Countertops Drywall Electrical Wiring Excavation, foundation and backfill Exterior Doors Framing and Trusses Gutter and Downspouts HVAC Insulation Interior Doors and hardware Landscaping and sod Lighting and xtures Other Other fees and inspections Painting Plumbing Roof Shingles Sheathing Siding Stairs Steel Tiles and carpet Trim material Water and sewer inspection Windows Wood deck Total Cost 10,749 9,249 12,792 37,332 33,996 24,927 47,634 5,790 104,415 2,347 26,530 9,996 10,063 21,264 7,116 57,255 9,495 22,914 35,259 25,416 11,607 33,574 5,023 4,911 34,303 22,132 11,233 13,703 5,344 667,539 Useful Life