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  James went out of business recently.

James recently went out of business and his friends Eddie and Michelle were a little worried....
Eddie: Did you know that James went out of business?
Michelle: Really?  When?
Eddie: Last month.
Michelle: That's too bad.  He had owned that business for 15 years.  I wonder what happened.
Eddie: I don't know, but life must be pretty tough for his family now.
Michelle: Well, I think he has some other investments.  Maybe things are not as bad as they are.
Eddie: I hope so.
 
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