What are the taxes due on the sale

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Reference no: EM132038727

Gross Selling Price: $1,000,000

Net Selling Price: $950,000 Accumulated Depreciation: $200,000 Loan Payoff: $350,000

Purchase Price: $350,000

Depreciated V alue: $150,000

Capital Gain Tax Rate: 20%

Tax Rate on Capital Gains Due to Depreciation 25%

What are the taxes due on the sale? $50,000, $120,000, $170,000, $280,000

What is the ATER? $430,000, $600,000, $480,000, $550,000

Reference no: EM132038727

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