Andrews art studio purchased its shop fifteen years ago. during the current year, the business installed a new roof and central air-conditioning system. which of the following choices is correct regarding the substantial improvements made during the current year?

The cost of the assets will be classified as nonresidential property and recovered over 39 years.

Explanation:

Non residential property means a property that is not meant for residential purposes, it is a commercial property which is for generating profit or gain.

When Andrews Art Studio installed a new roof and a central air-conditioning system for its business, the cost of the installments of the AC and new roof can be recovered over 39 years as it can be classified as a nonresidential property.

Thus the answer is

The cost of the assets will be classified as nonresidential property and recovered over 39 years.

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