The initial investment on a commercial building was $1M excluding the land. The building was occupied in March of the year in which it was purchased. After 10 years, the property was sold in the 11 th year on September 2017 for $2M. The land cost was appraised at $100,000 for tax purposes. Reference: Case Study 11.10 Determine the first year depreciation of the building. The initial investment on a commercial building was $1M excluding the land. The building was occupied in March of the year in which it was purchased. After 10 years, the property was sold in the 11 th year on September 2017 for $2M. The land cost was appraised at $100,000 for tax purposes. Reference: Case Study 11.10 Determine the first year depreciation of the building