Summarizes this and other pertinent information

Assignment Help Accounting Basics

Reference no: EM133612185

Question: The Pheonix Investment Group buys and sells rental income properties in Lebanon. Mazen, president of Phoenix, has asked for your assistance in analyzing a small apartment building the group is interested in purchasing. The property in question is a small two-story structure with three rental units on each floor. The purchase price of the property is $170,000 representing $30,000 in land value and $140,000 in buildings and improvements. Phoenix will depreciate the buildings and improvements value on a straight-line basis over 27.5 years. The Phoenix Group will make a down payment of $40,000 to acquire the property and finance the remainder of the purchase price over 20 years with an 11% fixed-rate loan with payments due annually. summarizes this and other pertinent information.

Reference no: EM133612185

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