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Alphonse purchases a store and a warehouse. The asking price includes $150,000 for the store, $50,000 for the warehouse, and $90,000 for the land. Alphonse
Alphonse purchases a store and a warehouse. The asking price includes $150,000 for the store, $50,000 for the warehouse, and $90,000 for the land. Alphonse agrees to this price even though he does not want to buy the warehouse because it does not meet his needs. He sells the warehouse building for $15,000 but has to pay $10,000 to have the warehouse moved.
Alphonse's basis in the land is $____ and his basis in the store is $.____
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