Lopez acquired a building on June 1, 2010, for $4,123,700. Compute the depreciation deduction assuming the building is classified as (a) residential and (b) non residential.Click here to access the depreciation table to use for this problem.If required, round your answers to the nearest dollar.a.If the building is classified as residential rental real estate, Lopezâs cost recovery deduction is $ ______ for 2015.b.If the building is classified as nonresidential real estate, Lopezâs cost recovery deduction is $ ______ for 2015.Please give a descriptive answer explaining each step.
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