Question: 1. Using the following information, determine a 28% bracket tax- payer's income tax liability (a) in the year of the sale if the property is

1. Using the following information, determine a 28% bracket tax- payer's income tax liability (a) in the year of the sale if the property is sold for cash. (b) in the year of the sale and subsequent years if the property is sold on an installment plan. 2 FACTO

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