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pls show steps.. ty!!!! 41. MH Realty, LLC sells a parcel of waterfront land and a residential condo building with an adjusted tax basis of
pls show steps.. ty!!!!
41. MH Realty, LLC sells a parcel of waterfront land and a residential condo building with an adjusted tax basis of S100,000 and 250,000, respectively for $500,000. The original purchase price MH allocated to the building was $600,000. MH's has deducted $350,000 in depreciation expense. MH's realized gain is $150,000. If MH takes back a note as part of the proceeds, what is MH's gross profit percentage? A. 83.33% B. 71.43%. C. 70.00%. D. 50.00%. E. 30.00Step by Step Solution
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