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Business, 01.12.2021 03:50 kendrawalraven

Lily Tucker (single) owns and operates a bike shop as a sole proprietorship. In 2021, she sells the following long-term assets used in her business: AssetSales PriceCostAccumulated Depreciation Building$ 232,400$ 202,400$ 54,400 Equipment82,400150,40025,400 Lily's taxable income before these transactions is $192,900. What are Lily's taxable income and tax liability for the year

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Lily Tucker (single) owns and operates a bike shop as a sole proprietorship. In 2021, she sells the...
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