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LO.1 Taylor is negotiating to buy some land. Under the first option, Taylor will give Ella $150,000 and assume her mortgage on the land for
LO.1 Taylor is negotiating to buy some land. Under the first option, Taylor will give Ella $150,000 and assume her mortgage on the land for $100,000. Under the second option, Taylor will give Ella $250,000; Ella will pay off the mortgage immediately. Taylor wants his basis for the land to be as high as possible. Given this objective, which option should Taylor select? Explain
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