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| Which of the following assets of a nongovernmental not-for-profit charitable organization must be depreciated? A. Building costs of $500,000 for construction in progress for senior citizen housing. B. A bulk purchase of $20,000 of linens for its nursing home. C. Land valued at $1 million being used as the site of the new senior citizen home. D. A freezer costing $150,000 for storing food for the soup kitchen. |