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Rock Lee is a resident of Mankayan, Benguet. He sold his family home for P4,000,000 which was previously acquired for P2,000 000. Rock Lee complied

Rock Lee is a resident of Mankayan, Benguet. He sold his family home for P4,000,000 which was previously acquired for P2,000 000. Rock Lee complied all BIR requirements to avail of tax exemption and spent P2, 500, 000 in acquiring new family home. How much is the basis of the new family home

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