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Bob owns a collection agency. He purchases uncollected accounts receivable from other businesses at 75% of their face value and then attempts to collect these
Bob owns a collection agency. He purchases uncollected accounts receivable from other businesses at 75% of their face value and then attempts to collect these accounts. During the current year, Bob collected $86,000 on an account with a face value of $103,200.
Bob has ______ debt deduction. He has ________ of ________.
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