Multiple Choice
Abby sells real property for $300,000.The buyer pays $5,000 in property taxes that had accrued during the year while the property was still legally owned by Abby.In addition, Abby pays $15,000 in commissions and $3,000 in legal fees in connection with the sale.How much does Abby realize (the amount realized) from the sale of her property?
A) $277,000
B) $282,000
C) $287,000
D) $300,000
Correct Answer:
Verified
Correct Answer:
Verified
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