Response to the following:
1-During August of the prior year, Julio purchased an apartment building that he used as a rental property. The basis was $1,400,000. Calculate the maximum depreciation expense during the current year?
2- putin corporation began business on september 23rd of the current year.it incurred 40000 of start up costs and 60000 of organizational expendures
1) How much may be immedialtely expensed for the year?
2) How much amortization may be deducted in the first year, rounded to the nearest whole number?