John purchases residential rental property on October 31, 2012 for a cost of $290,000. Of this amount, $140,000 is allocable to the cost of the home and the remaining $150,000 is allocable to the cost of the land. What is John's maximum depreciation deduction for 2012?
Select one:
a. $1,099
b. $1,061
c. $2,198
d. None of the above
e. $850