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What would be the taxable gain (loss) on a property given the following information? ...

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Accounting

What would be the taxable gain (loss) on a property given the following information?

Sales Price $5,500,000

Repairs and Maintenance 5,000

Brokers commission 5%

Depreciation 1,000,000

Utilities 3,500

Original purchase price 4,000,000

Cost of a new roof 350,000

If possible, please use a financial calculator and show me how to solve as I need to learn this concept for this class.

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