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This year, Sigma Inc. generated $633,000 Income from its routine business operations. In addition, the corporation sold the following assets, all of which were held
This year, Sigma Inc. generated $633,000 Income from its routine business operations. In addition, the corporation sold the following assets, all of which were held for more than 12 months: Initial Acc. Sale Basis Depr. * Price $ 183,200 $ @ $ 85,250 108,400 86,720 35,500 Marketable securities Production equipment Business realty: Land Building B 222,75 287, eee 233,250 298, eee 86, 100 *Through date of sale. Required: a. Compute Sigma's taxable income assuming that it used the straight-line method to calculate depreciation on the building and has no nonrecaptured Section 1231 losses. b. Recompute taxable income assuming that Sigma sold the securities for $186,400 rather than $85,250. Complete this question by entering your answers in the tabs below. Required A Required B Compute Sigma's taxable income assuming that it used the straight-line method to calculate depreciation on the building and has no nonrecaptured Section 1231 losses. Taxable income Required A Required B
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