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This year, Sigma Inc. generated $635,750 income from its routine business operations. In addition, the corporation sold the following assets, all of which were held
This year, Sigma Inc. generated $635,750 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. Basis Depr.* Sale Price Marketable securities Production equipment Business realty: 168,000 $ 0 $ 65,750 31,250 96,500 77,200 Land 232,500 0 256,750 202,000 60,600 228, 000 Building Through date of sale 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 losse:s b. Recompute taxable income assuming that Sigma sold the securities for $183,400 rather than $65,750 Complete this question by entering your answers in the tabs below. Required A Required B Recompute taxable income assuming that Sigma sold the securities for $183,400 rather than $65,750 Taxable income
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