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Ringo purchased land as an investment in 2015 for $80,000. Ringo sold the land for $28,000 cash. In addition to the cash, the purchaser assumed

Ringo purchased land as an investment in 2015 for $80,000. Ringo sold the land for $28,000 cash. In addition to the cash, the purchaser assumed Ringo's mortgage of $70,000 on the land. Compute Ringo's...

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