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At the end of its first year of operations, Clarissa Limited revalued the land asset upwards by $50,000. The land was acquired for $350,000 at

At the end of its first year of operations, Clarissa Limited revalued the land asset upwards by $50,000. The land was acquired for $350,000 at the start of the year. The company tax rate is 30%. Assu...

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