On October 7 of year 1, Javier purchased a building, including the land it was on, to assemble his new equipment. The total cost of the purchase was $1,304,500; $242,000 was allocated to the basis of the land and the remaining $1,062,500 was allocated to the basis of the building. (Use MACRS Table 1, Table 2, Table 3, Table 4 and Table 5.) (Do not round intermediate calculations. Round your answers to the nearest whole dollar amount.) What would be the depreciation for 2021, 2022, and 2023 if the property were nonresidential property purchased and placed in -rvice October 7, 2004 (assume the same original basis)? Depreciation Expense Year
On October 7 of year 1, Javier purchased a building, including the land it was on, to assemble his new equipment. The total cost of the purchase was $1,304,500; $242,000 was allocated to the basis of the land and the remaining $1,062,500 was allocated to the basis of the building. (Use MACRS Table 1, Table 2, Table 3, Table 4 and Table 5.) (Do not round intermediate calculations. Round your answers to the nearest whole dollar amount.) What would be the depreciation for 2021, 2022, and 2023 if the property were nonresidential property purchased and placed in -rvice October 7, 2004 (assume the same original basis)? Depreciation Expense Year
Chapter11: Long-term Assets
Section: Chapter Questions
Problem 3PB: During the current year, Alanna Co. had the following transactions pertaining to its new office...
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![[The following information applies to the questions displayed below.]
On October 7 of year 1, Javier purchased a building, including the land it was on, to assemble his new equipment. The
total cost of the purchase was $1,304,500; $242,000 was allocated to the basis of the land and the remaining $1,062,500
was allocated to the basis of the building. (Use MACRS Table 1, Table 2, Table 3, Table 4 and Table 5.) (Do not round
intermediate calculations. Round your answers to the nearest whole dollar amount.)
e. What would be the depreciation for 2021, 2022, and 2023 if the property were nonresidential property purchased and placed in
service October 7, 2004 (assume the same original basis)?
Depreciation
Expense
Year
2021
2022
2023](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F7c90e654-ccda-43a1-acc1-728dd6160a3d%2F5f4253a3-de74-45c7-9318-973095aa3e43%2Fasyxkas_processed.png&w=3840&q=75)
Transcribed Image Text:[The following information applies to the questions displayed below.]
On October 7 of year 1, Javier purchased a building, including the land it was on, to assemble his new equipment. The
total cost of the purchase was $1,304,500; $242,000 was allocated to the basis of the land and the remaining $1,062,500
was allocated to the basis of the building. (Use MACRS Table 1, Table 2, Table 3, Table 4 and Table 5.) (Do not round
intermediate calculations. Round your answers to the nearest whole dollar amount.)
e. What would be the depreciation for 2021, 2022, and 2023 if the property were nonresidential property purchased and placed in
service October 7, 2004 (assume the same original basis)?
Depreciation
Expense
Year
2021
2022
2023
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