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a) Brittany purchased a building for $160,000 on January 1, 2013. The purchase price does not include land. (Use Table 6A-6 and Table 6A-8) Required: Calculate the cost recovery for 2013 and 2021 if the real property is: Residential real property. A warehouse. Note: For all requirements, round your final answers to the nearest whole dollar amoun

a) Brittany purchased a building for $160,000 on January 1, 2013. The purchase price does not include land. (Use Table 6A-6 and Table 6A-8) Required: Calculate the cost recovery for 2013 and 2021 if the real property is: Residential real property. A warehouse. Note: For all requirements, round your final answers to the nearest whole dollar amoun

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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a) Brittany purchased a building for $160,000 on January 1, 2013. The purchase price does not include land. (Use Table 6A-6 and Table 6A-8)

Required:

Calculate the cost recovery for 2013 and 2021 if the real property is:

  1. Residential real property.
  2. A warehouse.

Note: For all requirements, round your final answers to the nearest whole dollar amount.

 

b) Brittany purchased a building for $160,000 on January 1, 2013. The purchase price does not include land. (Use Table 6A-6 and Table 6A-8)

Required:

Calculate the cost recovery for 2013 and 2021 if the real property is:

  1. Residential real property. 2013 ? 2021 ?
  2. A warehouse. 2013 ? 2021 ?

Note: For all requirements, round your final answers to the nearest whole dollar amount.

Pleease don't answer in hand written thanku

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Section 179 Deduction and Modified Accelerated Cost Recovery System (MACRS) Depreciation
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