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(Imputation of Interest) Presented below are two independent situations: 1. On January 1, 2017, Excess Inc. purchased undeveloped land that had an assessed value of

(Imputation of Interest) Presented below are two independent situations: 1. On January 1, 2017, Excess Inc. purchased undeveloped land that had an assessed value of $261,000 at the time of pu...

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