An owner, who bought an industrial building without financing on January 1st eight years ago...
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Accounting
An owner, who bought an industrial building without financing on January eight years ago for $ is selling the property on December of the current year for $ and will incur a cost of sale of percent of the sale price. The property allocation was percent for improvements and percent for land at the time of purchase. The owner's tax rates are percent for ordinary income, percent for cost recovery recapture, and percent for capital gain from appreciation. What are the proceeds after tax for this sale?
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