Rayna bought an apartment building in July 2015 for $360,000 and sold it for $480,000 in 2021.

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Rayna bought an apartment building in July 2015 for $360,000 and sold it for $480,000 in 2021. There was $77,994 of accumulated depreciation allowed on the apartment building. If Rayna is in the 35% tax bracket, how much of the gain is taxed at 25%?

a. $0.

b. $42,006.

c. $77,994.

d. $120,000.

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Fundamentals Of Taxation 2022

ISBN: 9781264209408

15th

Authors: Ana Cruz, Michael Deschamps, Frederick Niswander

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Question Posted: Apr 19, 2023 04:46 AM

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Rayna bought an apartment building in July 2015 for $360,000 and sold it for $480,000 in 2021.

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Fundamentals Of Taxation 2022

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