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On april 3rd, terry purchased and placed in service a building. the building cost $2 million. an appraisal determined that 25% of the total cost was attributed to the value of the land. the bottom floor of the building is leased to a retail business for $32,000. the other floors of the building are rental apartments with an annual rent of $160,000. determine terry's cost recovery deduction for 2014.
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On april 3rd, terry purchased and placed in service a building. the building cost $2 million. an app...
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