Question: Explain the difference between the following situations: a. Lois sells a letter written to her by President Ronald Reagan in 1982 to a collector for

Explain the difference between the following situations:

a. Lois sells a letter written to her by President Ronald Reagan in 1982 to a

collector for $5,000.

b. Lois sells a signed copy of the book To Kill a Mockingbird, which she purchased

in 1980 for $5 to a collector for $5,000.

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