Question: On August 2 3 , 2 0 1 6 , Donald Dawson purchased and immediately placed in service a small apartment building for $ 1

On August 23,2016, Donald Dawson purchased and immediately placed in service a small apartment building for $1,200,000, of which $400,000 was allocated to the land on which the building was located. The estimated life of the building was 40 years, with a salvage value of $480,000. What is Donald's allowable depreciation for year 2023?
A $12,280
B43,630
C29,090
D23,080
E None of the above

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