Fox River LLC owns a 160 - unit multifamily apartment complex in Charlotte, NC. The valueallocated to the land is $4,600,000.00. The annual depreciation is $669,090.90. Whatpercentage of the purchase price is allocated to the land?

ParticularsaAnnual Depreciation$ 669090.90bNumber of years useful life (United States)27.50c =…

Answered: Fox River LLC owns a 160 - unit…

CONCEPTS IN FED.TAX.,2020-W/ACCESS

20th Edition

ISBN:9780357110362

Author:Murphy

Publisher:Murphy

Chapter3: Income Sources

Section: Chapter Questions

Problem 43P

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Fox River LLC owns a 160 - unit multifamily apartment complex in Charlotte, NC. The value allocated to the land is $4,600,000.00. The annual depreciation is $669, 090.90. What percentage of the purchase price is allocated to the land?