John Purchases Residential Rental Property on June 30, 2016 for a Cost

Multiple Choice

John purchases residential rental property on June 30, 2016 for a cost of $290,000. Of this amount, $140,000 is allocable to the cost of the home and the remaining $150,000 is allocable to the cost of the land. What is John's maximum depreciation deduction for 2016?

A) $2,758
B) $1,485
C) $1,061
D) $370
E) None of the above