Brenda Baines Sells Land to Carla Chandler for $15,000 Cash

Multiple Choice

Brenda Baines sells land to Carla Chandler for $15,000 cash and a piece of equipment with an adjusted basis of $15,000 and a fair market value of $20,000. fte land was subject to a $25,000 mortgage which Carla assumed. Brenda incurred $2,500 in selling expenses. What is the amount realized by Brenda?

A) $55,000
B) $60,000
C) $52,500
D) $57,500