This year, Sigma Inc. generated $636,000 income from its routine business operations. In...
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This year, Sigma Inc. generated $636,000 income from its routine business operations. In addition, the corporation sold the following assets, all of which were held for more than 12 months. Initial Acc Marketable securities Production equipment Business realty Basis Depr.*Sale Price 115,600 92,480 36,000 235,500 $ 157,600 $ 0 74,000 Land Building 241,750 263,000 78,900 218,000 Through date of sale a. Compute Sigma's taxable income assuming that it used the straight-line method to calculate depreciation on the building and has no nonrecaptured Section 1231 losses
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