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Exercise 8-9 (Algorithmic) (LO. 7) An apartment building was acquired in 2009 by an individual...

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Accounting

Exercise 8-9 (Algorithmic) (LO. 7)

An apartment building was acquired in 2009 by an individual taxpayer. The depreciation taken on the building was $274,310, and the building was sold for a $82,293 gain.

What is the maximum amount of 25% gain?

The maximum amount of unrecaptured 1250 gain is $.

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