You are considering the purchase of a small apartment building. The total cost to acquire the property is $3,000,000. Net operating income (NOI) is estimated at $262,028 for the first full year of operations. A $1,950,000 mortgage loan can be obtained at a 4.0% annual interest rate with monthly payments for 25 years. Seventy-five percent of the total acquisition price represents depreciable real property improvements (assume no personal property). What is the annual tax depreciation deduction ignoring the mid-month convention? $57,692 $81,818 $76,923 O None of the choices are within $100 of the correct answer $90,000