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please solve A building was purchased for $1,000,000. The property is held for 5 years. During that time period, straight-line depreciation was used. (5%/year). Just

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A building was purchased for $1,000,000. The property is held for 5 years. During that time period, straight-line depreciation was used. (5%/year). Just before the property was sold, $100,000 of improvements were made. The building sold for $2,100,000 What is the capital gains tax if the property was owned personally and they are in the 40% tax bracket? Note: the improvements were not capitalized (no depreciation was taken for the improvements in any prior tax year). Show your work for partial credit. Maximum number of characters (including HTML tags added by text editor): 32,000 Show Rich Text Editor/and sharacter count

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