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Jane acquired a manufacturing plant with land on November 14, 2020, for $2 million. The value of the land was $400,000. Jane sold the manufacturing

Jane acquired a manufacturing plant with land on November 14, 2020, for $2 million. The value of the land was $400,000. Jane sold the manufacturing plant and land on November 22, 2027.

a) Determine her cost recovery for 2020

b) Determine her cost recovery for 2027

c) Determine her adjusted basis for the building as of the date of sale.

d) If Jane sold the entire property for $2.5 million, how much was her gain?

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