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An office building is determined to have a cost of $15,000,000 for depreciation. What is the depreciation amount for the first year if the building was purchased on January 1st

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JeanaShupp

Answer: $ 384615

Explanation:

According to the US tax code ,

Depreciation for office building = Original cost divided by 39

Given: An office building is determined to have a cost of $15,000,000 for depreciation.

The depreciation amount for the first year = ($15,000,000) ÷ 39

≈ $ 384615

Hence, the  depreciation amount for the first year =$ 384615

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