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Calculate the accumulated depreciation

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Reference no: EM133261375

On August 8, 2022, Tru-Putt Inc. sold a small warehouse that had been used to store items before shipment. The warehouse was sold for $850,000 (building $775,000 and land $75,000). The warehouse was purchased on March 10, 2013 for $575,000 ($525,000 building and $50,000 land). You will need to calculate the accumulated depreciation as of the sales date on August 8th which will include the current year's depreciation that will need to be deducted in calculating taxable income.

Reference no: EM133261375

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