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4 August, 07:05

Jenny constructed a building for use as a residential rental property. The cost of the building was $82,488, and it was placed in service on August 1, 1994. The building has a 27.5-year MACRS life. What is the amount of depreciation on the building for 2018 for tax purposes?

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  1. 4 August, 07:31
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    Answer: $3000

    Explanation:

    Depreciation = 82488/27.5 = $3000
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