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Ben purchased an apartment building on January 1, 1994, for $200,000. The building has been...

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Accounting

Ben purchased an apartment building on January 1, 1994, for $200,000. The building has been depreciated over the appropriate recovery period using the straight-line method. On December 31, 2013, the building was sold for $220,000, when the accumulated depreciation was $62,500. Ben is in the highest tax bracket; on his 2013 tax return, he should report

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