Paragon Properties built a shopping center at a cost of $50M in year 2010. The company started leasing space in July of 2014. The land was purchased for $5M. Determine the depreciation charges through 2017 if the property was sold in November 2017. A. $3,563,100 B. $3,848,400 C. $4,615,200 The percentage depreciation charges in year 2014 = 1.177% The percentage depreciation charges in year 2015 and 2016 = 2.564% Note that the cost of land is not depreciable.

Paragon Properties built a shopping center at a cost of $50M in year 2010. The company started leasing space in July of 2014. The land was purchased for $5M. Determine the depreciation charges through 2017 if the property was sold in November 2017. A. $3,563,100 B. $3,848,400 C. $4,615,200 The percentage depreciation charges in year 2014 = 1.177% The percentage depreciation charges in year 2015 and 2016 = 2.564% Note that the cost of land is not depreciable.

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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