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6. A real estate developer bought land for $3.2 million and plans to build a hotel for $10.5 million. The hotel is to come into
6. A real estate developer bought land for $3.2 million and plans to build a hotel for $10.5 million. The hotel is to come into service April 1st 2017. They plan to operate it for 10 years and sell it April 1st 2027. Develop a depreciation table for this investment. Also, calculate the tax implications if the hotel is sold for $9 million. Given: The company is in a 33% tax bracket and the capital gains rate os 15% per year.
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