Question $4\mathrm{.}2(10$ points$)$ On September $1$st$,$ you purchased a residential home in which to locate your professional office for $$550,000.$ The appraisal is divided into $$100,000$ for the land and $$450,000$ for the building.

$($ Residential real property $(27\mathrm{.}5-$year$)$ Depreciation percentage Rate

$10\mathrm{.}7576\%$

$23\mathrm{.}6364\%$

$33\mathrm{.}6364\%43\mathrm{.}4848\%$

a In your first year of ownership, how much you deduct for depreciation for tax purposes?

b Suppose that the property was sold at $$600,000$ at the end of fourth year of ownership. What is the book value of the property?