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Required information Problem 10-45 (LO 10-1) (Algo) [The following information applies to the questions displayed below.] Wanting to finalize a sale before year-end, on December
Required information Problem 10-45 (LO 10-1) (Algo) [The following information applies to the questions displayed below.] Wanting to finalize a sale before year-end, on December 29, WR Outfitters sold to Bob a warehouse and the land for $171,000. The appraised fair market value of the warehouse was $124,500, and the appraised value of the land was $139,500. 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
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