Question: Problem 8-4 (Algorithmic) Modified Accelerated Cost Recovery System (MACRS) (LO 8.2) On May 8, 2020, Holly purchased a residential apartment building. The cost basis assigned

Problem 8-4 (Algorithmic) Modified Accelerated Cost Recovery System (MACRS) (LO 8.2) On May 8, 2020, Holly purchased a residential apartment building. The cost basis assigned to the building is $246,500. Holly also owns another residential apartment building that she purchased on September 15, 2020, with a cost basis of $259,000. Click here to access the depreciation tables. If required, round intermediate calculations and final answers to nearest dollar. a. Calculate Holly's total depreciation deduction for the apartments for 2020 using MACRS. $fill in the blank 3c82d0015010025_1 4,175.47 b. Calculate Holly's total depreciation deduction for the apartments for 2021 using MACRS. $fill in the blank 06dee7072007000_1 22,555.45

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