Problem:
Rona Inc is a developer. During the year, the corporation finished construction of a complex containing a new shopping mall and office building. To enhance the environment of the complex, substantial landscaping was done including the planting of many trees, shrubs and gardens. In addition, Rona Inc acquired a massive sculpture that served as the focal point for the complex. Finally, numerous pictures were purchased which were hung in the shopping center and offices. Can depreciation deductions be claimed on any of the items noted above? if, so what will be the appreciable life for those items? Rona Jones is the President of Rona, Inc and its address is 428 Davis Avenue, Columbia. SC
Required:
(1). Write a memo and letter to the client.