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On July 18 of year 1 Javier purchased a building, including the land it was on,...

On July 18 of year 1 Javier purchased a building, including the land it was on, to assemble his new equipment. The total cost of the purchase was $1,595,500; $463,000 was allocated to the basis of the land and the remaining $1,132,500 was allocated to the basis of the building. (Use MACRS Table 1, Table 2, Table 3, Table 4 and Table 5.) (Do not round intermediate calculations. Round your answer to the nearest whole dollar amount.)

a. Using MACRS, what is Javier’s depreciation expense on the building for years 1 through 3?

b. What would be the year 3 depreciation expense if the building was sold on October 12 of year 3?

c. Answer the question in part (a), except assume the building was purchased and placed in service on May 6 instead of July 18.

d. Answer the question in part (a), except assume that the building is residential property.

e. What would be the depreciation for 2017, 2018, and 2019 if the property were nonresidential property purchased and placed in service March 14, 2000 (assume the same original basis)?

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