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9) A corporation sold a warehouse during the current year. The straight-line depreciation method was used. Information about the building is presented below: Date acquired
9) A corporation sold a warehouse during the current year. The straight-line depreciation method was used. Information about the building is presented below: Date acquired 1984 Cost $800,000 Accumulated Depreciation - Straight-line 620,000 Selling Price 890,000 How much gain should the corporation report as section 1231 gain? Please provide calculations so I can better check my wokr.
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