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Jesse purchases land and an office building for his business for $200,000 with $50,000 being allocated to the land.During the first year, Jesse deducts cost recovery of $3,050.Jesse's adjusted basis for the building at the end of the first year is $146,950 ($150,000 - $3,050).
Compounds Class
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World's Population
The total number of living humans on Earth at a given time.
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Natural fuels such as coal, oil, and natural gas formed from the fossilized remains of ancient plants and animals.
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