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A local law firm recently remodeled its offices. In addition to new office furniture and...

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Accounting

A local law firm recently remodeled its offices. In addition to new office furniture and computers, the company purchased six large paintings from a local art gallery. These paintings are more than 100 years old and cost more than $100,000. The paintings are on display in the offices alongside more recent paintings by lesser-known artists. Are the paintings depreciable for tax purposes?

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