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The Givner Apartments is recently sold for $12.5MM gross sales price. Assume the following: - accumulated depreciation on the property is $1.0MM - the current

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The Givner Apartments is recently sold for $12.5MM gross sales price. Assume the following: - accumulated depreciation on the property is $1.0MM - the current Adjusted Cost Base is \$9.8MM - 25% tax rate on accumulated depreciation - 15% tax rate on capital gain. - 5% selling cost. What is the capital gain tax on property appreciation

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