We need to use the MACRS cost recovery schedule for business property (39 years) placed on service during the 8th month = 0.963%
Jane's total deduction = total cost of improvements x depreciation schedule = $300,000 x 0.963% = $2,889
Modified accelerated cost recovery system (MACRS) is the depreciation method established by the IRS to calculate tax deductions based on asset depreciation.
The Current Population Survey(CPS) contacts a representative sample of 60,000 people of age 15 and above every month in order to make an inferential assumption about the US population as a whole.
