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Alice is in business as a sole trader. On 13 May 2015, she sold a freehold warehouse for £184,000, and this
resulted in a chargeable gain of £38,600. Alice purchased a replacement freehold warehouse on 20 May
2015 for £143,000. Where possible, Alice always makes a claim to roll over gains against the cost of
replacement assets. Both buildings have been, or will be, used for business purposes by Alice.
What is the base cost of the replacement warehouse for capital gains tax purposes?
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