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Sylvio Purchased an Apartment Building as an Investment in January

Question 97

Multiple Choice

Sylvio purchased an apartment building as an investment in January 2010 for $383,500 and sold it for $475,000 in 2016.He reported $68,436 of allowed accumulated straight-line depreciation.If Sylvio is in the highest tax bracket for ordinary income,how much of his gain qualifies for preferential tax treatment?


A) $68,436.
B) $91,500.
C) $159,936.
D) $0.

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