8. You and your partner purchased an apartment complex that cost $1,000,000 in June of 2010. The complex was sold in December of 2018 for $750,000. What is the depreciation deduction for the last year? b. $34,845 a. $26,133.75

8. You and your partner purchased an apartment complex that cost $1,000,000 in June of 2010. The complex was sold in December of 2018 for $750,000. What is the depreciation deduction for the last year? b. $34,845 a. $26,133.75

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

8. You and your partner purchased an apartment complex that cost $1,000,000 in June of 2010. The complex was
sold in December of 2018 for $750,000. What is the depreciation deduction for the last year?
a. $26,133.75
b. $34,845
$27,270
c. $36,360

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