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(TCO I) Peter Paulson purchased a residence on February 19, 2011 for $180,000. On September...

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Accounting

(TCO I) Peter Paulson purchased a residence on February 19, 2011 for $180,000. On September 7, 2017, a tornado completely destroyed his home. The home was insured for its replacement value and homes in Peter's area had appreciated greatly. He received proceeds of $420,000. How much does Peter include?

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