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Sheena Maskell Sheena Maskell
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7 years ago
A corporation sold a warehouse during the current year. The straight-line depreciation method was used. Information about the building is presented below:

Date acquired   1984
Cost   $800,000
Accumulated Depreciation - Straight-line   320,000
Selling Price   890,000

How much gain should the corporation report as section 1231 gain?
A) $64,000
B) $320,000
C) $346,000
D) $410,000
Textbook 
Prentice Hall's Federal Taxation: 2011: Individuals

Prentice Hall's Federal Taxation: 2011: Individuals


Edition: 14th
Authors:
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MsLippyMsLippy
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