Dennison Property Company purchases a new office space for lease to small businesses for $2,400,000, including a land value of $400,000. The property is placed in service on March 15, 1999. Using MACRS, what is the depreciation on this property at the end of its first year? (Points: 5)

$40,660
$43,656
$50,260
$57,850

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13 years ago

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Dennison Property Company purchases a new office space for lease to small businesses for $2,400,000, including a land value of $400,000. The property is placed in service on March 15, 1999. Using MACRS, what is the depreciation on this property at the end of its first year? (Points: 5)
        $40,660 
        $43,656 
        $50,260 
        $57,850