Required information Problem 10-51 (LO 10-2) (Algo) [The following information applies to the questions displayed below.] On October 7 of year 1, Javier purchased a building, including the land it was on, to assemble his new equipment. The total cost of the purchase was $1,304,500; $242,000 was allocated to the basis of the land and the remaining $1,062,500 was allocated to the basis of the building. (Use MACRS Table 1, Table 2. Table 3, Table 4 and Table 5.) Note: Do not round intermediate calculations. Round your answers to the nearest whole dollar amount. Problem 10-51 Part a (Algo) a. Using MACRS, what is Javier's depreciation deduction on the building for years 1 through 3? Year 1 Year 2 Depreciation Expense Year 3 Problem 10-51 Part b (Algo) b. What would be the year 3 depreciation deduction if the building was sold on May 12 of year 3? Year 3 depreciation deduction Problem 10-51 Part C (Algo) c. Assume the building was purchased and placed in service on May 20 instead of October 7. Using MACRS, what is Javier's depreciation deduction on the building for years 1 through 3? Year 1 Year 2 Year 3 Depreciation Deduction Problem 10-51 Part d (Algo) d. Assume the building is residential property. Using MACRS, what is Javier's depreciation deduction on the building for years 1 through 3? Depreciation Expense Your 1 Year 2 Year 3 e. What would be the depreciation for 2023, 2024, and 2025 if the property were nonresidential property purchased and placed in service October 7, 2006 (assume the same original basis)? Year Depreciation Expense 2023 2024 2025