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Required information Skip to question [The following information applies to the questions displayed below.] On November 10 of year 1, Javier purchased a building, including
Required information
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[The following information applies to the questions displayed below.]
On November 10 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 $1,200,000; $300,000 was allocated to the basis of the land, and the remaining $900,000 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.
d. Assume the building was purchased and placed in service on November 10 of year 1 and is residential property.
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