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Required Information Problem 3-45 (LO 3-3, LO 3-4, LO 3-5) (Static) [The following information applies to the questions displayed below.] Hart, an Individual, bought
Required Information Problem 3-45 (LO 3-3, LO 3-4, LO 3-5) (Static) [The following information applies to the questions displayed below.] Hart, an Individual, bought an asset for $500,000 and has claimed $100,000 of depreciation deductions against the asset. Hart has a marginal tax rate of 32 percent. Answer the questions presented in the following alternative scenarios (assume Hart had no property transactions other than those described in the problem): (Loss amounts should be Indicated by a minus sign. Enter NA If a situation is not applicable. Leave no answer blank. Enter zero if applicable.) Problem 3-45 Part-e (Static) e1. Now assume that Hart is a C corporation. What are the amount and character of its recognized gain or loss If the asset is a nonresidential building sold for $450,000? e2. What effect does the sale have on Hart's tax liability for the year (assume a 21 percent tax rate)? Complete this question by entering your answers in the tabs below. Req el Req e2 What effect does the sale have on Hart's tax liability for the year (assume a 21 percent tax rate)? Tax liability
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