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Mona Purchased a Business from Judah for $1,000,000

Question 29

Multiple Choice

Mona purchased a business from Judah for $1,000,000.Judah's records and an appraiser provided her with the following information regarding the assets purchased: Mona purchased a business from Judah for $1,000,000.Judah's records and an appraiser provided her with the following information regarding the assets purchased: What is Mona's adjusted basis for the land, building, and equipment? A) Land $270,000, building $450,000, equipment $180,000. B) Land $195,000, building $575,000, equipment $230,000. C) Land $195,000, building $310,000, equipment $95,000. D) Land $270,000, building $521,429, equipment $208,571. What is Mona's adjusted basis for the land, building, and equipment?


A) Land $270,000, building $450,000, equipment $180,000.
B) Land $195,000, building $575,000, equipment $230,000.
C) Land $195,000, building $310,000, equipment $95,000.
D) Land $270,000, building $521,429, equipment $208,571.

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