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Sam Tyler, a single taxpayer, social security number 111-44-1111, bought Rental Equipment on 04/01/2010. He paid $400,000 including all closing and delivery costs. In the current year, he collected rents of $27000 and paid tangible taxes of $7,000, insurance $3700, maintenance $12000, repairs $1700, Note interest $11500.
On June 1, of the current year, Sam sold the rental property for $465,000. Sam paid the closing costs and commissions of $15,000. The buyer put a $65,000 deposit down on the property and signs a promissory note for $400,000 with interest payable at 5% annually.
Sam receives $10667 of interest from the buyer in current year and $50000. in principal payments on the seller financed loan. Assume the buyer is not a related party and that Sam does not participate in this equipment rental activity.
The generalization of the normal distribution used for the characterization of functions. It is known as a Gaussian process because it has Gaussian distributed finite dimensional m
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