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melisa1 [442]
3 years ago
13

A professional office center is purchased for $475,000. The land value is 20% of the total acquisition cost. What is the annual

IRS depreciation deduction? (Round answer to nearest dollar.)
Business
1 answer:
Vika [28.1K]3 years ago
3 0

Answer:

$9,744

Explanation:

In the case of the annual  IRS depreciation deduction, the time period for each category assets are different. Like for commercial real estate, the time period is 39 years, for residential real estate, it would be 27.5 years.

The computation is shown below:

= (Purchase value of professional office center × remaining percentage) ÷ (applicable time period)

= ($475,000 × 80%) ÷ (39 years)

= ($380,000) ÷ (39 years)

= $9,744

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Answer:

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Explanation:

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Nguyen, Inc. has received a bid for 15 comma 000 units. The costing estimates show that the average cost per unit for this bid w
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B. $ 12 comma 600 comma 000

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Question 4 of 10
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Smith buys and sells equity securities. On December 15, 2021, Smith purchased $542,000 of Jones shares and elected the fair valu
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$46,000

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We can find out the the revaluation gain that need to be reported at the year end by just deducting the the cost of the investment by its current fair value .

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