Question: 1 . ~ re ' ' vy - On 9-Feb of year 1, Javier purchased a building, including the land it was on, to assemble
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. ~ re ' ' vy - On 9-Feb 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 $1,368,500; $346,000 was allocated to the basis of the land and the remaining $1,022,500 was allocated to the basis of the building. (Use MACRS Table 1, Table 2, Table 3, Table 4 and Table 5.) Note: Do not round intermediate calculations. Round your answers to the nearest whole dollar amount. d. Assume the building was purchased and placed in service on 9-Feb of year 1 and is residential propertyStep by Step Solution
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