Business, 10.12.2019 02:31 chrischris1

Brenda sold investment land for $200,000 in june. her basis in the land was $75,000. the purchaser paid brenda $40,000 cash and gave her his 5-year, interest-bearing note for the $160,000 remaining contract price. in december, brenda received a $20,000 principle payment on the note. brenda's recognized gain this year is: a. $22,500 b. $37,500 c. $125,000 d. $60,000

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Brenda sold investment land for $200,000 in june. her basis in the land was $75,000. the purchaser p...

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