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Question - The following information is available from Sand Corp.'s accounting records for the year ended December 31, year 2:
Cash received from customers - $870,000
Rent received - $10,000
Cash paid to suppliers and employees - $510,000
Taxes paid - $110,000
Cash dividends paid - $30,000
Calculate net cash flow provided by operations for year 2?
$230,000
$220,000
$250,000
$260,000
Steve owns a rental property with an adjusted basis in Steve's hands of $100,000. What is Steve's BASIS in the new property he received in the exchange
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