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Depreciable property with a cost of $ 2 0 , 0 0 0 , a fair market value ( FMV ) of $ 4 0

Depreciable property with a cost of $20,000, a fair market value (FMV) of $40,000, and an undepreciated capital cost (UCC) of $15,000 is transferred to a corporation in a Section 85 Rollover. The elected transfer price must beQuestion content area bottomPart 1A.$20,000.B.$40,000.C.an amount between $15,000 and $40,000.D.an amount between $20,000 and $40,000.

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