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Required information Problem 10-52 (LO 10-2) (Algo) [The following information applies to the questions displayed below.] Carl purchased an apartment complex for $2.1 million on
Required information Problem 10-52 (LO 10-2) (Algo) [The following information applies to the questions displayed below.] Carl purchased an apartment complex for $2.1 million on March 17 of year 1. of the purchase price, $800,000 was attributable to the land the complex sits on. He also installed new furniture into half of the units at a cost of $70,000. (Use MACRS Table 1, Table 2, Table 3, Table 4 and Table 5.) (Enter your answers in dollars and not in millions of dollars.) Problem 10-52 Part b (Algo) b. What is Carl's allowable depreciation deduction for year 3 if the real property is sold on January 2 of year 3? (Do not round intermediate computations. Round your final answer to the nearest whole dollar amount.) Depreciation for year 3
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