Problem: Kind, Inc., an exempt organization, leases land, a building, and factory equipment to Shirts, Inc. Shirts is a taxable entity that manufactures shirts for distribution through its factory outlet stores. The rent income and the related expenses for Kind are as follows:
|
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Rent Income
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Rent Expenses
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Land and building
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$100,000
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$40,000
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Factory equipment
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125,000
|
25,000
|
Calculate the amount of Kind's unrelated business income?
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