Question: 5 1 . Mr . Briggs purchased an apartment complex on January 1 0 , 2 0 2 1 , for $ 2 million with

51. Mr. Briggs purchased an apartment complex
on January 10,2021, for $2 million with 10% of the price allocated to land. He sells the
complex on October 22,2023, for $2.5 million. Assume that 10% of the $2.5 million sell-ing price is allocated to land and 90% is allocated to the building.
a. How much depreciation was allowed for 2021?
b. How much depreciation is allowed for 2023?

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