Johnny owned a gas station with adjusted basis of $300000 . After it was destroyed in a
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Johnny owned a gas station with adjusted basis of $300000 . After it was destroyed in a fire , he received $560000 from the insurance company .Within the next year, he bought a new gas station for $500000 . what is johnny's recognized gain and what is the basis in the new building?
Related Book For
Introduction to Operations Research
ISBN: 978-1259162985
10th edition
Authors: Frederick S. Hillier, Gerald J. Lieberman
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