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OX sold an asset with a $78,300 adjusted tax basis for $100,000. The purchaser paid $30,000 in cash and assumed OX's $70,000 mortgage on the
OX sold an asset with a $78,300 adjusted tax basis for $100,000. The purchaser paid $30,000 in cash and assumed OX's $70,000 mortgage on the asset. Compute OX's net cash flow from the sale assuming a 21% tax rate. Multiple Choice $25,443 $17,143 $23,700 a >I None of these choices are correct
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