Question
Tanger, LP purchased a residential rental property for $4 million. The land was assessed at $750,000. Tanger, LP placed the real estate in service on
Tanger, LP purchased a residential rental property for $4 million. The land was assessed at $750,000. Tanger, LP placed the real estate in service on May 21st. What is the MACRS depreciation expense for the initial year of operation, the year of purchase?
1.$73,872
2.$118,181
3.$9,848
4.$90,909
5. None of the above
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Company Accounting
Authors: Ken Leo, John Hoggett, John Sweeting, Jennie Radford
8th Edition
0470819731, 978-0470819739
