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Augustus1 Augustus1
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7 years ago
During the current year, a corporation sells for $300,000 equipment that it had purchased and placed in service in 2008. The equipment cost $270,000 and $60,000 of depreciation deductions was allowed. The results of the sale are
A) ordinary income of $90,000.
B) Sec. 1231 gain of $90,000.
C) ordinary income of $60,000 and LTCG of $30,000.
D) ordinary income of $60,000 and Sec. 1231 gain of $30,000.
Textbook 
Prentice Hall's Federal Taxation: 2011: Individuals

Prentice Hall's Federal Taxation: 2011: Individuals


Edition: 14th
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We do not judge the people we love.

Prentice Hall's Federal Taxation by Kramer
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Yoko900Yoko900
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7 years ago
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Augustus1 Author
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#2
7 years ago
I needed this so bad, I'm laughing right now from happiness
We do not judge the people we love.

Prentice Hall's Federal Taxation by Kramer
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