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Required information Skip to question [The following information applies to the questions displayed below.] On November 10 of year 1 Javier purchased a building, including the land it was on, to assemble his new equipment. The total cost of the purchase was $1,200,000; $300,000 was allocated to the basis of the land and the remaining $900,000 was allocated to the basis of the building. (Use MACRS Table 1, Table 2, Table 3, Table 4 and Table 5.) (Do not round intermediate calculations. Round your answers to the nearest whole dollar amount.) a. Using MACRS, what is Javiers depreciation deduction on the building for years 1 through 3?

Year: Depreciation Expense:

1:

2:

3:

b. What would be the year 3 depreciation deduction if the building was sold on August 1 of year 3?

Year 3 depreciation deduction:

c. Assume the building was purchased and placed in service on March 3 instead of November 10. Using MACRS, what is Javiers depreciation deduction on the building for years 1 through 3?

Year: Depreciation Expense:

1:

2:

3:

d. Assume the building is residential property. Using MACRS, what is Javiers depreciation deduction on the building for years 1 through 3?

Year: Depreciation Expense:

1:

2:

3:

e. What would be the depreciation for 2019, 2020, and 2021 if the property were nonresidential property purchased and placed in service November 10, 2002 (assume the same original basis)?

Year: Depreciation Expense:

1:

2:

3:

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