Problem $8-30($Algorithmic$)($LO$.1,2)$

In $2018,$ Jos$$ purchased a house for $$188,100.$ He used the house as his personal residence. In August $2021,$ when the fair market value of

the house was $$265,000,$ he converted the house to rental property.

If required, round your answers to the nearest dollar.

Click here to access depreciation tables in the textbook.

a$.$ Jos$\text{'}$s basis for cost recovery for the property is $

b$.$ Under MACRS, the cost recovery period for residential rental real estate is

years, and it is subject to the

convention.

c$.$ The cost recovery for $2021$ is $