Rafael Bought an Apartment Building on March 27, 1998, at a Cost

question 78

Multiple Choice

Rafael bought an apartment building on March 27, 1998, at a cost of $2,000,000 exclusive of the cost allocated to the land) . He sells the building on November 3, 2014. What is Rafael's cost recovery deduction on the building for 2014 if he wants to take the maximum deduction allowable on the building?

• A) $44,870
• B) $63,630
• C) $66,660
• D) $69,690
• E) $72,740

---

Definitions:

Commitment to Conformity

A psychological state where an individual consistently follows the norms, rules, or laws of a given group or society.

Gap Between Goals

The discrepancy or distance between an individual's current state and their desired goals or outcomes.

Belief in Moral Validity

A conviction in the inherent rightness or wrongness of actions according to a moral code.

Involvement in Conventional Activities

Engagement in socially accepted and normative activities, often considered as protective factors against deviant behavior in youth and adolescents.