Question: Problem 8-4 (Algorithmic) Modified Accelerated Cost Recovery System (MACRS) (LO 8.2) On March 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 March 8, 2020, Holly purchased a residential apartment building. The cost basis assigned to the building is $195,400, Holly also owns another residential apartment bulding that she purchased on May 15, 2020, with a cost basis of $355,000 Click here to access the depreciation tables If required, round Intermediate calculations and final answers to nearest dollar - Calculate Holly's total depreciation deduction for the apartments for 2020 using MACRS b. Calculate Holly's total depreciation deduction for the apartments for 2021 using MACRS

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