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Barney owns 75 acres on which his personal residence is located. His income as an author is $120,000 a year. In Year 1, he purchased
Barney owns 75 acres on which his personal residence is located. His income as an author is $120,000 a year. In Year 1, he purchased cattle for dairy purposes and personal satisfaction. Barneys income and expenses from the dairy are as follows: Income Expenses Year 1 $10,000 $20,000 Year 2
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