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Shanstella Bought a 4-Unit Apartment Building in July 2007 for $360,000

Question 30

Multiple Choice

Shanstella bought a 4-unit apartment building in July 2007 for $360,000 and sold it for $480,000 in 2016.There was $96,541 of accumulated straight-line depreciation on the apartment building.Assuming that Shanstella is in the 33% tax bracket,how much of her gain is taxed at 25%?


A) $120,000.
B) $216,541.
C) $96,541.
D) $0.

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