Abby owns a condominium in the Great Smokey Mountains. During the year, Abby uses the condo a total of 21 days. The condo is also rented to tourists for a total of 79 days and generates rental income of $12,500. Abby incurs the following expenses:
Using the IRS method of allocating expenses, the amount of depreciation that Abby may take with respect to the rental property will be
A) $ 5,074.
B) $ 8,515.
C) $ 7,900.
D) $10,000.
Correct Answer:
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