Janet purchased her personal residence in 2006 for $250,000. In January 2016 she converted it to rental

Question:

Janet purchased her personal residence in 2006 for $250,000. In January 2016 she converted it to rental property. The fair market value at the time of conversion was $210,000.
a. Determine the amount of cost recovery that can be taken in 2016:_________________
b. Determine the amount of cost recovery that could be taken in 2016 if the fair market value of the property were $350,000:_____________________