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Required information [The following information applies to the questions displayed below.] Carl purchased an apartment complex for $1.1 million on March 17 of year
Required information [The following information applies to the questions displayed below.] Carl purchased an apartment complex for $1.1 million on March 17 of year 1. Of the purchase price, $300,000 was attributable to the land the complex sits on. He also installed new furniture into half of the units at a cost of $60,000. (Use MACRS Table 1. Table 2. Table 3. Table 4 and Table 5.) (Enter your answers in dollars and not in millions of dollars.) 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.) Depreciation for year 3 $ 29,088
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