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On June 1,2012,Buffalo Corporation Purchased and Placed in Service 7-Year

question 84

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On June 1,2012,Buffalo Corporation purchased and placed in service 7-year MACRS tangible property costing $100,000.On November 10,2015,Buffalo sold the property for $102,000 after having taken MACRS $47,525 in depreciation deductions.What is the amount and character of Buffalo's gain?


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