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A property sells for a net price of $250,000. Its adjusted basis is $175,000. The terms include closing costs down and a $ 250,000 wraparound
A property sells for a net price of $250,000. Its adjusted basis is $175,000. The terms include closing costs down and a $ 250,000 wraparound contract for deed payable not less than interest only monthly at 10% per year, all due in 10 years. This contract for deed is subject to an existing assumable loan balance of $100,000.
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To calculate the last payment on the 250000 wraparound contract for deed we need to use the formula ...
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Income Tax Fundamentals 2013
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
31st Edition
1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516
