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PeopleMag sells a plot of land for $100,000 to Seven Star Company, its 100 percent owned subsidiary, on January 1,207. The cost of the land

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PeopleMag sells a plot of land for $100,000 to Seven Star Company, its 100 percent owned subsidiary, on January 1,207. The cost of the land was $75,000, when it was purchased in 206. In 209, Seven Star sells the land to Hot Properties Incorporated an unrelated

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