Question: Please show work and bold the final answer. Thank you! Required information Problem 10-45 (LO 10-1) (Algo) [The following information applies to the questions displayed

Please show work and bold the final answer. Thank you!

Please show work and bold the final answer. Thank you! Required information

Required information Problem 10-45 (LO 10-1) (Algo) [The following information applies to the questions displayed below.] Wanting to finalize a sale before year-end, on December 29, WR Outfitters sold to Bob a warehouse and the land for $198,000. The appraised fair market value of the warehouse was $75,750, and the appraised value of the land was $126,750. Note: Do not round intermediate calculations. Round your final answers to the nearest whole dollar amount. Problem 10-45 Part b (Algo) What would be Bob's basis in the warehouse and in the land if the appraised value of the warehouse was $50,750, and the appraised value of the land was $198,000? Answer is complete but not entirely correct

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