Bobby and Betty Bennett Sold for $450,000 in October of 2012

Multiple Choice

Bobby and Betty Bennett sold for $450,000 in October of 2012 their residence that they had purchased in 2002 for $200,000. ftey made major capital improvements during their 10-year ownership totaling $40,000. What is their recognized gain?

A) $250,000
B) $210,000
C) $-0-
D) $450,000
E) None of the above