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Required information Problem 2-45 (LO 2-1) (Algo) [The following information applies to the questions displayed below.] Wanting to finalize a sale before year-end, on December
Required information Problem 2-45 (LO 2-1) (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 $169,000. The appraised fair market value of the warehouse was $101,750, and the appraised value of the land was $172,500. (Do not round intermediate calculations. Round your final answers to the nearest whole dollar amount.) Problem 2-45 Part a (Algo) a. What is Bob's basis in the warehouse and in the land? Bob's Basis Warehouse Land S 89,286 $ 35,714
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