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Accounting

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Required information [The following information applies to the questions displayed below] Wanting to finalize a sale before year-end, on December 29, WR Outfitters sold to Bob a warehouse and the land for $117,000. The appraised fair market value of the warehouse was $135,750, and the appraised value of the land was $161,250. (Do not round intermediate calculations. Round your final answers to the nearest whole dollar amount.) a. What is Bob's basis in the warehouse and in the land

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