Multiple Choice
Noah sold investment land for $70,000 cash and the buyer's assumption of Noah's $30,000 mortgage on the property.Noah paid a realtor's commission of $2,800 on the sale.What is Noah's realized gain if the land has an adjusted basis of $57,000?
A) $43,000
B) $40,200
C) $13,000
D) $10,200
Correct Answer:
Verified
Correct Answer:
Verified
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