May-Kers Corporation, a calendar year C-corporation purchased a parcel of raw land in 2018 for $2,500.000. May-kers constructed an office building on this land at a total cost of $12,500,000 and put the building into service in February 2019. The corporation purchased 5-year class assets for $300,000 and put them in service in May 2019. Later in 2019 (on December 1, 2019) May-kers purchased and put in service $800,000 of 7-year class assets. What is the allowed depreciation expense on the office building ONLY in 2019 and 2020?

a. $224,700 in 2019 and $256,400 in 2020

b. $359,875 in 2019 and $454,500 in 2020

c. $280, 875 in 2019 and $320, 500 in 2020

d. $337,050 in 2019 and $384,600 in 2020

Answer rating: 100% (QA)

Answer Calculation of Depreciation on building in 2019 2020 Building Cost 12500... View the full answer