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Taxpayer purchased a building for $280,000 on February 1, 20X1. The building is used entirely for the operations of the Taxpayer's industry or business. On
Taxpayer purchased a building for $280,000 on February 1, 20X1. The building is used entirely for the operations of the Taxpayer's industry or business. On May 31, 20X5, Taxpayer sold the building. Taxpayer depreciates the property through current depreciation. Determine the total amount of depreciation expense for the building from its acquisition to its disposal.
a. $40,000
b. $34,000
c. $34,666
d. $32,000
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