McGraw-Hill's Taxation of Business Entities 3rd Edition by Connie Weaver, Brian Spilker, Edmund Outslay, John Robinson, Ronald Worsham, Benjamin Ayers, John Barrick

Exercise 61

Carl purchased an apartment complex for $1.1 million on March 17 of year 1. $300,000 of the purchase price was attributable to the land the complex sits on. He also installed new furniture into half of the units at a cost of $60,000.
What is Carl's allowable depreciation expense for his real property for years 1 and 2 What is Carl's allowable depreciation expense for year 3 if the property is sold on January 2 of year 3