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Question 1 (5 points ) Fung Wo purchased vacant land on a remote island off the coast of British Columbia on January 1, 2011 for

Question 1 (5 points ) Fung Wo purchased vacant land on a remote island off the coast of British Columbia on January 1, 2011 for $50,000 . She intended to re-sell it for a profit the next year but due...

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