Question: Please show work in excel with formulas used thank you! You purchased a property 9 years ago for $8 million. At the time, the land

Please show work in excel with formulas used thank you!

Please show work in excel with formulas used thank you! You purchased

You purchased a property 9 years ago for $8 million. At the time, the land was estimated to be worth $1 million, with the balance representing the value of the structure and other improvements. Since that time you have been depreciating the structure and improvements on a straight-line basis assuming a depreciable life of 39 years. Assuming you have not made substatntial improvements to the property beyond regular maintenance, what is the current adjusted basis (book value) of the property

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