Carla was the owner of vacant land that she was holding for investment. she paid $2,000,000 for the land in 2017. raymond was an investor in vacant land. he thought carla's land might be the site of an exit ramp from a new freeway. raymond gave carla $836,000 for an option on her land in 2018. the option was good for two years and gave raymond the ability to purchase carla's land for $4,765,000. the freeway was not approved by the government, and raymond's option expired in 2019. does carla have $836,000 of long-term capital gain upon the expiration of the option?

For example, the upper right cell shows that if expresso advertises and beantown doesn't advertise, expresso will make a profit of $15 million, and beantown will make a profit of $2 million. assume this is a simultaneous game and that expresso and beantown are both profit-maximizing firms. if expresso decides to advertise, it will earn a profit of $ million if beantown advertises and a profit of $ million if beantown does not advertise. if expresso decides not to advertise, it will earn a profit of $ million if beantown advertises and a profit of $ million if beantown does not advertise. if beantown advertises, expresso makes a higher profit if it chooses . if beantown doesn't advertise, expresso makes a higher profit if it chooses . suppose that both firms start off not advertising. if the firms act independently, what strategies will they end up choosing? expresso will choose to advertise and beantown will choose not to advertise. expresso will choose not to advertise and beantown will choose to advertise. both firms will choose to advertise. both firms will choose not to advertise.