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49) Ricardo acquired a warehouse for business purposes on August 30, 1992. The busi

49) Ricardo acquired a warehouse for business purposes on August 30, 1992. The busi

49) Ricardo acquired a warehouse for business purposes on August 30, 1992. The business cost $400,000.00. He took $226,900 of depreciation on the building and then
sold it for $500,000.00 on July 1, 2010. What are the amount and nature of Ricardos gain or loss on the sale of the warehouse?

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