Real Estate Math
A property was purchased for $450,000 and depreciated at 2.5% per year for 10 years for income tax purposes. What is the accumulated depreciation amount?
AA. $112,500✓ Correct
BB. $45,000
CC. $90,000
DD. $100,000
Explanation
Annual depreciation = 2.5% × $450,000 = $11,250.
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