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What is its tax base if the tax rate is 30 percent

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Michelle Ltd has a building that has just been revalued to its fair value of $300 000. It was initially acquired at a cost of $180 000. The accumulated depreciation for tax purposes is $36 000. The tax rate is 30%. Assuming the expectation is that the asset will continue to be used by the company, what is its tax base?

Reference no: EM132379462

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