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Yappa Corporation distributed depreciable personal property having a fair market value of $9,500 to its shareholders. The property had an adjusted basis of $2,000 to

Yappa Corporation distributed depreciable personal property having a fair market value of $9,500 to its shareholders. The property had an adjusted basis of $2,000 to the corporation. Yappa had correctly deducted $7,000 in depreciation on the property. What is the amount of Yappa's ordinary income due to this distribution?

  • A.
  • $9,500
  • B.
  • $7,500
  • C.
  • $7,000
  • D.
  • $0

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