need help with homework

Question

Calculate the following:

The first year of depreciation on a residential rental building costing $200,000 purchased May 2, 2015.
A. None of the choices
B. $5,446
C. $4,546
D. $3,940
E. $2,567

Answer 1

There is not enough information provided. We need to know:

 

If the calculation is for tax purposes, you have to look up the MACRS life for rental apartments and the depreciation method required.

 

If it is for accounting purposes, we need to know the asset's estimated life, estimated salvage value, and the depreciation method to be used.