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Daniel acquires a 30 interest in the ppz partnership from

Question - Daniel acquires a 30% interest in the PPZ Partnership from Paolo, an existing partner for $43,000 of cash. The PPZ Partnership includes $14,000 of recourse liabilities. What is Daniel's basis in his partnership interest?

$57,000.

$52,800.

$14,000.

$47,200.

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Accounting Basics: Daniel acquires a 30 interest in the ppz partnership from

Reference No:- TGS02900956

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