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4. Kent has a tour bus with a basis of $150,000. The bus was destroyed in an accident and State Firm Insurance paid a settlement

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4. Kent has a tour bus with a basis of $150,000. The bus was destroyed in an accident and State Firm Insurance paid a settlement of $200,000. Kent reinvested $210,000 in a new tour bus. REQUIRED: A. What is the gain or loss on the old tour bus and what is the basis of the new tour bus? B. If the new tour bus is sold for $210,000, what is the gain or loss

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