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Required information [The following information applies to the questions displayed below.] Cari purchased an apartment complex for $1.3 million on March 17 of year 1
Required information [The following information applies to the questions displayed below.] Cari purchased an apartment complex for $1.3 million on March 17 of year 1 . of the purchase price, $400,000 was attributable to the land the complex sits on. He also installed new furniture into half of the units at a cost of $62,000. (Use MACRS Table 1. Table 2. Table 3. Table 4 and Table 5.) Note: Enter your answers in dollars and not in millions of dollars. a. What is Carl's allowable depreciation deduction for his real property for years 1 and 2? Note: Round your final answers to the nearest whole dollar amount
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