On June 1 of the Current Year,Jack and Angie Purchased

question 16

Multiple Choice

On June 1 of the current year,Jack and Angie purchased a rental beach house for $900,000 and rented it right away.Of that amount,$600,000 was for the land value.How much depreciation deduction can Jack and Angie take in the current year? (You may need to refer to the depreciation tables. )

• A)$11,820
• B)$10,909
• C)$5,910
• D)$17,730

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Definitions:

Properties of Logarithms

The set of rules that apply to logarithmic functions, including product, quotient, and power rules.

Logarithm

The exponent or power to which a base must be raised to produce a given number, commonly used in the operations of multiplication and division in a compressed form.

Change-of-Base Formula

A formula that allows the base of a logarithm to be changed, facilitating easier calculation.

Properties of Logarithms

The properties of logarithms are mathematical rules that apply to logarithmic functions, including product, quotient, and power rules.