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Clarise Bought a Building Three Years Ago for $180,000 to Use

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Clarise bought a building three years ago for $180,000 to use in her business.The straight-line method of depreciation was used and $15,000 of depreciation deductions were allowed.During the current year,Clarise sells the building to her wholly owned corporation for $235,000.The tax results to Clarise are


Definitions:

Dependent Variable

The outcome variable in an experiment or study that is expected to change in response to manipulations of the independent variable.

Scatterplot

A graphical representation in which two variables are plotted along two axes, helping to show the relationship between them.

Positive

Characterized by or displaying affirmation, agreement, or constructive qualities or results.

Relationship

How two or more ideas, objects, or persons are related, or the status of being in relation.

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