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What is the corporation allowable depreciation deduction

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Reference no: EM132828240

Problem 1: In January of this year, a corporation purchased residential real estate (an apartment building) at a total cost of $250,000. Of this amount, $50,000 was allocated to the underlying land, and therefore $200,000 was depreciable. What is the corporation's allowable depreciation deduction for the current year under MACRS?

Option 1: $5,128

Option 2: $6,970

Option 3: $4,915

Option 4: $7,273

Option 5: none of the above

Reference no: EM132828240

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