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Business, 23.04.2020 02:06 candigirl8847

Russell Corporation sold a parcel of land valued at $422,500. Its basis in the land was $268,287. For the land, Russell received $54,000 in cash in year 0 and a note providing that Russell will receive $265,000 in year 1 and $103,500 in year 2 from the buyer. (Do not round intermediate calculations. Round your final answers to the nearest whole dollar amount.)

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Russell Corporation sold a parcel of land valued at $422,500. Its basis in the land was $268,287. Fo...

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