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Basis Cash 50000 AR 0 Inventory 60000 Securities 42000 Building 83000 Land 34000 FMV 50000 14000 55000 65000 77000 62000. Vail River Guides Inc sells

Basis Cash 50000 AR 0 Inventory 60000 Securities 42000 Building 83000 Land 34000 FMV 50000 14000 55000 65000 77000 62000. Vail River Guides Inc sells the land for 65,000. Calculate the amount of built in gains tax owed by Vail River Guides inc as a result of theis sale. Assume Vail has 75000 taxable income for the current year calculated as a C Corp

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