Booth Corporation sells a building classified as a residential rental property for $200,000. The MACRS straight- line depreciation taken is $20,000 and the adjusted basis of the building is $170,000. Booth Corporation must recognize ordinary income of

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The Answer of Booth Corporation sells a building classified as a residential rental property for $200,000. The MACRS straight- line depreciation taken is $20,000 and the adjusted basis of the building is $170,000. Booth Corporation must recognize ordinary income of

Booth Corporation Sells a Building Classified as a Residential Rental