Question
[The following information applies to the questions displayed below.] On May 17 of year 1, Javier purchased a building, including the land it was on,
[The following information applies to the questions displayed below.] On May 17 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 $1,142,000; $342,000 was allocated to the basis of the land and the remaining $800,000 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.) Problem 10-51 Part d (Algo) d. Assume the building is residential property. Using MACRS, what is Javiers depreciation deduction on the building for years 1 through 3?
c. Assume the building was purchased and placed in service on February 18 instead of May 17. Using MACRS, what is Javiers depreciation deduction on the building for years 1 through 3?
a. Using MACRS, what is Javiers depreciation deduction on the building for years 1 through 3?
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