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Assume that you purchased a commercial (non-residential) property for $10,000,000 on May 31,2018, with 20%...

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Accounting

Assume that you purchased a commercial (non-residential) property for $10,000,000 on May 31,2018, with 20% of the purchase price attributed to land value. What is the total amount of depreciation you could claim in 2018 using the mid-month convention? (2) Assuming the property is sold on November 17,2023, how much depreciation could you claim for 2023 using the mid-month convention

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