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5. Arnold Atkins purchased a residence for $160,000 on September 26, 2020. In October 2021,...

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Accounting

5. Arnold Atkins purchased a residence for $160,000 on September 26, 2020. In October 2021, he became ill and was confined to a nursing home. On October 8, 2022, he sold the residence for $245,000. How much gain can Arnold exclude

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