anet purchased her personal residence in 2007 for $250,000. In January 2017, she converted it...
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Accounting
anet purchased her personal residence in 2007 for $250,000. In January 2017, she converted it to rental property. The fair market value at the time of conversion was $210,000. (Use Table 6A-6) Determine the amount of cost recovery that can be taken in 2017: Determine the amount of cost recovery that could be taken in 2017 if the fair market value of the property were $350,000: (For all requirements, round your answers to 2 decimal places.)
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