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How transaction will increase his taxable income by

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Damen sold his office loft that he used in his trade or business for 180,000. He had purchased the loft in 1997 for 100,000. Total depreciation taken for the loft equals 25,000.

Problem 1: This transaction will increase his taxable income by

a. 180,000

b. 105,000

c. 80,000

d. 29,400

e. None of the above

Reference no: EM132704151

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