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Land valued at 50,000 for property tax purposes is offered for sale at 60,000. The land is acquired by a business for 18,000 cash and

Land valued at 50,000 for property tax purposes is offered for sale at 60,000. The land is acquired by a business for 18,000 cash and a Note Payable for 40,000, due in 120 days. The buyer will recor...

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