Problem
On April 8, 2021, Holly purchased a residential apartment building. The cost basis assigned to the building is $258,000. Holly also owns another residential apartment building that she purchased on March 15, 2021, with a cost basis of $157,500.
i. Calculate Holly's total depreciation deduction for the apartments for 2021 using MACRS.
ii. Calculate Holly's total depreciation deduction for the apartments for 2022 using MACRS.