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3 April, 12:57

Mark owns a single family residence. Using the straight-line depreciation method, what is the theoretical economic life of Mark's property

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  1. 3 April, 13:20
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    27.5 years

    Explanation:

    The property is depreciated on a straight line basis following the tax life of 27.5 year. The general depreciation system of the modified accelerated cost recovery system (MACRS) the IRS usually set 27.5 years sets a recovery period for residential rental property
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