Hope,Inc ,An Exempt Organization,owns a Factory Building That It Leases

question 56

Essay

Hope,Inc. ,an exempt organization,owns a factory building that it leases to a taxable corporation for $100,000 per year.Related expenses for Hope are $30,000.Hope's average acquisition indebtedness on the building is $400,000 and the average adjusted basis is $600,000.Calculate Hope's unrelated debt-financed income and expenses.Then indicate the effect of these items on unrelated business taxable income.

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