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ignments Question 23 3 pts Question question Question zzes des Time Running Ride 59 Minutes...

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ignments Question 23 3 pts Question question Question zzes des Time Running Ride 59 Minutes 18 Second Honor Code . tvas Student de Slumar, an accrual basis, calendar year corporation reported net income before tax of S7 289.200 on its financial statements prepared in accordance with GAAP The corporate records reveal the following information Slumar's depreciation expense per books was $40.980, and its MACRS depreciation deduction was $77,270, Slumnar sold marketable securities to its sole shareholder. The amount realized on the sale was $50,000, and Slumar's basis in the securities was $60,000 Two years ago. Slumat exchanged one tract of investment and (AZ) for a different tract of Investment land (CA) in a qualified like kind exchange. Shimans tax basis in AZ was $500.000 and CA'S FMV was $835,000. This year, Sumarsold CA for $850,000 cash Compute Slumar's taxable income . U Bookstore . U Library dent Resources om AMP O $7.597010 cussions $2.507910 0:57,577,010 $7612910

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