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48) A corporation sold a warehouse during the current year. The company purchased the building...

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Accounting

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48) A corporation sold a warehouse during the current year. The company purchased the building 2548) years ago. Details are as follows Cost $800,000 Accumulated Depreciation 620,000 Selling Price 890,000 How much gain should the corporation report as Sec. 1231 gain? A) $90,000 B) $586,000 C) $710,000 D) $124,000

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