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In 2007, Jose purchased an office building (excluding land) for $1,000,000 and used the office building in his sole proprietorship. While Jose owned the office

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In 2007, Jose purchased an office building (excluding land) for $1,000,000 and used the office building in his sole proprietorship. While Jose owned the office building, his depreciation deductions totaled $100,000 (straight-line depreciation). Jose sold the property in 2020 for $1,150,000. Same facts as previous four questions. What is the maximum tax rate (e.g. 11% would be entered as . 11). Assume that Jose has no 1231 losses for the year, no capital losses for the year, and Jose is in the 37% marginal tax rate

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