Required information [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.) (Do not round intermediate calculations, Round your answers to the nearest whole dollar amount.) b. What would be the year 3 depreciation deduction if the building was sold on August 1 of year 3? Answer is complete but not entirely correct. Year 3 depreciation deduction $ 7.118 c. Assume the building was purchased and placed in service on March 3 instead of November 10. Using MACRS, what is Javier's depreciation deduction on the building for years 1 through 3? 2120 Answer is not complete. Depreciation Deduction s 4,095 1 2 3 d. Assume the building is residential property. Using MACRS, what is Javier's depreciation deduction on the building for years 1 through 3? Year Depreciation Expense 1 2 3