Multiple Choice
Mary sells her personal use automobile for $20,000. She purchased the car two years ago for $17,000. What is Mary's recognized gain or loss? It increased in value due to its excellent mileage, yet safe design.
A) $0
B) $3,000
C) $17,000
D) $20,000
E) None of the above
Correct Answer:
Verified
Correct Answer:
Verified
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