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How much depreciation xyz company can declare for warehouse

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Q1- XYZ Company purchased a warehouse in July 2017 for a total of $35 million. It is estimated that the building and land worth about the same.

How much depreciation XYZ Company can declare for the warehouse in 2017?

a. $224,358.97

b. None of them

c. $243,055.56

d. $411,324.79

e. $205,662.39

Q2- XYZ Company purchased a warehouse in July 2017 for a total of $35 million. It is estimated that the building and land worth about the same.

If XYZ Company sold the warehouse in December 2020 for $32 million, how much capital gain/loss could they declare?

a. Capital gain $1,392,094.02

b. Capital gain $1,466,880.34

c. Capital loss $1,466,880.34

d. Capital loss $1,392,094.02

e. None of them

Reference no: EM133126055

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