On June 1^st of the current year,Nancy and Dean purchased a rental beach house for $1,200,000.Of that amount,$800,000 was for the land value.How much depreciation deduction can Nancy and Dean take in the current year? (You may need to refer to the depreciation tables. )

A) $7,880.
B) $14,545.
C) $15,760.
D) $23,640.

Depreciation Deduction

A tax deduction that allows the cost of an asset to be spread over its useful life.

Depreciation Tables

Charts or schedules provided by tax authorities that outline how to depreciate assets over their useful lives for tax purposes.

Land Value

The market value of a piece of land, not including any buildings, improvements, or other structures on it.