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Two years ago, a corporation purchased non-residential real estate (an office building) at a total cost of $250,000. Of this amount, $50,000 was allocated to
Two years ago, a corporation purchased non-residential real estate (an office building) at a total cost of $250,000. Of this amount, $50,000 was allocated to the underlying land. What is the corporation's allowable depreciation deduction for the current year under MACRS? (Ignore IRC 179 and bonus depreciation.)
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