What is berk''s basis in this land
Fred Burk bought a plot of land with a cash payment of $40,000 and a purchase money mortgage of $50,000. In addition, Berk paid $200 for a title insurance policy. what is Berk's basis in this land ?
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Sun Inc. factors $3,000,000 of its accounts receivables with recourse for a finance charge of 3%. The finance company retains an amount equal to 10% of the accounts receivable for possible adjustments. Sun estimates the fair value of the recourse
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The FICA rate is 7.65% on an employee's wages to $106,800 and 1.45% in excess of $106,800. Of the $208,000 wages subject to FICA tax, $20,000 of the sales wages is in excess of $106,800. Federal unemployment tax rate is 0.8% after credits. Income
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The lessee does guarantee the residual value. The lessee has incremental borrowing rate of 14% and is aware of the lessor's implicit rate of return of 12%. Assume the fair value of the equipment at the end of lease term (12/31/2014) will be $10,00
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