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An hotel compnay is purchasing a lot for $750k and plans to built a 6-story $18.5 million building on it. They plan to put the
An hotel compnay is purchasing a lot for $750k and plans to built a 6-story $18.5 million building on it. They plan to put the hotel in-service on July 4th 2017. Develop a depreciation table for this property for the first 10 calendar years of operation.
The property above will be sold in October 30th 2027 with a projected sale price of $21.5 million. What will be the tax liability of this company, assuming that they are in a 28% tax bracket and that the land did not appreciate?
I NEED YOU TO ANSWER THE SECOND PART PLEASE.
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