Required information [The following information applies to the questions displayed below.] Wanting to finalize a...
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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 $169,000. The appraised fair market value of the warehouse was $101,750, and the appraised value of the land was $172,500. (Do not round intermediate calculations. Round your answers to the nearest whole dollar amount.) a. What is Bobs basis in the warehouse and in the land?
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