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Please solve Parts A - C. Wanting to finalize a sale before year-end, on December 29 , WR Outfitters sold to Bob a warehouse and
Please solve Parts A - C.
Wanting to finalize a sale before year-end, on December 29 , WR Outfitters sold to Bob a warehouse and the land for $131,000. Note: Do not round intermediate calculations. Round your final answers to the nearest whole dollar amount. Problem 10-45 Part a (Algo) a. What is Bob's basis in the warehouse and in the land if the appraised value of the warehouse was $111,750 and the appraised value of the land was $136,500 ? b. What would be Bob's basis in the warehouse and in the land if the appraised value of the warehouse was $86,750, and the appraised value of the land was $131,000 ? c. Which of the following appraisals would Bob likely prefer? 1. The appraised value of the warehouse was $111,750, and of the land was $136,500. 2. The appraised value of the warehouse was $86,750 and of the land was $131,000 Step by Step Solution
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