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In 2015, Skylar sold an apartment building for $62,400 cash and a $624,000 note due in two years. Skylars cost of the property was $499,200,
In 2015, Skylar sold an apartment building for $62,400 cash and a $624,000 note due in two years. Skylars cost of the property was $499,200, and he had deducted depreciation of $299,520, $119,808 of which was in excess of what the straight-line amount would have been.
If required, round any division to two decimal places and your final answers to the nearest dollar.
Under the installment sales method, Skylar's total realized gain is $( ) . In 2015, he recognizes 1250 gain of $( ) and 1231 gain of $( ).
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