The building sits on land that bob is currently leasing


Question - Bob bought an apartment building on 11/29/2012 for 3,200,000. The building sits on land that Bob is currently leasing from the U.S. government for $1 a year. Calculate Bob's depreciation expense for purposes of computing federal income tax in 2012 and 2013.

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Accounting Basics: The building sits on land that bob is currently leasing
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