What was the taxpayers initial tax basis in the


An apartment house was purchased on July 8 of last year by a taxpayer who computes her taxes on a calendar basis. Her depreciation deduction last year was $9,375. The building accounted for 75 percent of the property's market value at the time of purchase, what was the taxpayer's initial tax basis in the property?

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Financial Management: What was the taxpayers initial tax basis in the
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