Question: Dove Corp. began operating a hardware store in the current year after constructing a building at a total cost of $100,000 on land previously acquired

Dove Corp. began operating a hardware store in the current year after constructing a building at a total cost of $100,000 on land previously acquired for $50,000. In the current year, the land had a fair market value of $60,000. Dove paid real estate taxes of $5,000 in the current year. What is the total depreciable basis of Doves business property?

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