Calculate simmons maximum depreciation


Simmons LLC purchased an office building and land several years ago for $250,000. The purchase price was allocated as follows: $200,000 to the building and $50,000 to the land. The property was placed in service on October 2. If the property is disposed of on February 27 during the 10th year, calculate Simmons' maximum depreciation in the 10th year:

A. $641

B. $909

C. $5,128

D. $7,346

E. None of these

Request for Solution File

Ask an Expert for Answer!!
Accounting Basics: Calculate simmons maximum depreciation
Reference No:- TGS045627

Expected delivery within 24 Hours