Company G, a calendar year taxpayer, purchased a five-story building on April 2 of the current...

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Company G, a calendar year taxpayer, purchased a five-story building on April 2 of the current year for $1 million. The building, which has no historical or architectural significance, was constructed in 1946 by the previous owner, who had fully depreciated it before selling it to Company G. he first floor is occupied by shops and restaurants, the other four by apartments. Income will be $50,000 from commercial rents and $150,000 from residential rents. The deduction for depreciation that the company may claim for the building is about Company G, a calendar year taxpayer, purchased a five-story building on April 2 of the current year for $1 million. The building, which has no historical or architectural significance, was constructed in 1946 by the previous owner, who had fully depreciated it before selling it to Company G. he first floor is occupied by shops and restaurants, the other four by apartments. Income will be $50,000 from commercial rents and $150,000 from residential rents. The deduction for depreciation that the company may claim for the building is about

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