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. Harold purchased a home for $300,000 three years ago, and was recently transferred by...

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Accounting

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. Harold purchased a home for $300,000 three years ago, and was recently transferred by his employer to an office located across the country. He made $20,000 of improvements to the residence, but if he sold the home today, he would only be able to receive $260,000 for the house due to a weak real estate market. Instead of selling the home and realizing a loss, Harold rents the home to a tenant. What is Harold's basis for depreciation purposes? a. $260,000. b. $270,000. c. $300,000. d. $320,000

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