On april 3 2011 terry purchased and placed in service a

Reference no: EM13591885

On April 3, 2011, Terry purchased and placed in service a building. The building cost $2 million. An appraisal determined that 25% of the total cost was attributed to the value of the land. The bottom floor of the building is leased to a retail business for $32000. The other floors of the building are rental apts. With the annual rent of $160000. Determine Terry's cost recovery for 2011.

Reference no: EM13591885

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