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Required information Problem 3-52 (LO 3-5) [The following information applies to the questions displayed below.] Tonya Jeffer

Please answer Req a1

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Answer #1

The gain or loss to be recognized is,

On building , 10,00,000 - (6,00,000 - 2,50,000) = 650,000

On land , 1,000,000 - 500,000 = 500,000

In total it is 1,150,000

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