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Part B please On January 1, 2025, Vaughn Corporation sold a building that cost $261,490 and that had accumulated depreciation of $102,790 on the date
Part B please
On January 1, 2025, Vaughn Corporation sold a building that cost $261,490 and that had accumulated depreciation of $102,790 on the date of sale. Vaughn received as consideration a $251,490 non-interest-bearing note due on January 1,2028. There was no established exchange price for the building, and the note had no ready market. The prevailing rate of interest for a note of this type on January 1, 2025, was 9\%. At what amount should the gain from the sale of the building be reported? (Round factor values to 5 decimal places, e.g. 1.25124 and final answer to 0 decimal places, e.g. 458,581.) The amount of gain should be reported $ eTextbook and Media Solution Attempts: unlimited b) On January 1, 2025, Vaughn Corporation purchased 335 of the $1,000 face value, 9%, 10-year bonds of Walters Inc. The bonds mature on January 1, 2035, and pay interest annually beginning January 1, 2026. Vaughn purchased the bonds to yield 11%. How much did Vaughn pay for the bonds? (Round factor values to 5 decimal places, e.g. 1.25124 and final answer to 0 decimal places, e.g. 458,581.) Vaughn must pay for the bonds $Step by Step Solution
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