1. (make sure you know what date to use) On August 4, 2020, William purchased a new office building for $3,600,000. On October 2, 2020, he began to rent out office space in the building. On July 23, 2024, he sold the office building. Determine the cost recovery deduction for 2020. Determine the cost recovery deduction for 2024.

Date of assets placed in service is used as starting date for depreciation calculation. The office property is ready to use on August 4, 2020

The building is a non-residential property, so MACRS table for the type of property will be used

Depreciation Base                               $3,600,000

Cost recovery rate per table                  0.963%

Cost recovery deduction for 2020     $34,668

Depreciation Base                               $3,600,000

Cost recovery rate per table                  2.564%

Cost recovery deduction for 2020     $49,998

answer; someone must cover the cost associated with the provision of scarce goods in both sectors;

answer decisions made by individual households and firms;