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

Exercise 49

Carl purchased an apartment complex for $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.
a.What is Carl's allowable depreciation expense for his real property for years 1 and 2?
b.What is Carl's allowable depreciation expense for year 3 if the property is sold on January 2 of year 3?