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Purple Corporation purchases residential rental property for $ 1 , 3 0 0 , 0 0 0 ( disregarding any allocation to the land )

Purple Corporation purchases residential rental property for $

1, 300, 000 (

disregarding any allocation to the land

)

on March

9, 2019 .

Straight

-

line cost recovery of $

1

.

How much of this gain is taxed under

1250 ?

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