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This year Dan and Mike purchased realty for $180,000 and took title as equal tenants in common. However, Mike was able to provide only $50,000

This year Dan and Mike purchased realty for $180,000 and took title as equal tenants in common. However, Mike was able to provide only $50,000 of the purchase price and Dan paid the remaining $130,000. What is the total amount of taxable gifts made by Dan to Mike?

The answers are NOT $40,000 nor $27,000.

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