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A flood damaged a building and contents. Floods are unusual and infrequent in this area. The receipts from insurance companies totaled $400,000, which was $120,000

A flood damaged a building and contents. Floods are unusual and infrequent in this area. The receipts from insurance companies totaled $400,000, which was $120,000 less than the book values. The tax rate is 30%.How much is the flood loss using cash flow indirect method

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