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Randy purchased a single-family home for $200,000 to use as a rental property. The appraisal of the home valued the building at 76% of the
Randy purchased a single-family home for $200,000 to use as a rental property. The appraisal of the home valued the building at 76% of the total purchase price. The remaining 24% of the purchase price represented the value of the land. What amount should Randy use as the basis for the house (building) for depreciation purposes
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