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Boume Guitars, a corporation, reported a $251,000 net $1231 gain for year 6. a. Assuming Bourne reported $65,250 of nonrecaptured net 61231 losses during years

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Boume Guitars, a corporation, reported a $251,000 net $1231 gain for year 6. a. Assuming Bourne reported $65,250 of nonrecaptured net 61231 losses during years 1-5, what amount of Bourne's net 51231 gain for year 6. If any, is treated as ordinary income? Bome's gamtrented as ordinary income

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