Question
The Givner Apartments is recently sold for $12.5MM gross sales price. Assume the following: accumulated depreciation on the property is $1MM the current Adjusted Cost
The Givner Apartments is recently sold for $12.5MM gross sales price. Assume the following:
accumulated depreciation on the property is $1MM
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 tax on recapture of the cumulative depreciation? (Round to nearest dollar)
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Fire Extinguisher Log Book
Authors: Arahan Khan
1st Edition
B09TZKR5Z4, 979-8428924282
