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Nick is selling an apartment building to Lauren. Lauren pays a $7 million down payment in 2018. She will pay another $3 million in 2019,
Nick is selling an apartment building to Lauren. Lauren pays a $7 million down payment in 2018. She will pay another $3 million in 2019, $3 million in 2020, and $1 million in 2021. Nick originally paid $5 million for the apartment building and had taken $1 million of straight-line depreciation at the time of the sale.
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