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irakobra [83]
3 years ago
6

Kase, an individual, purchased some property in Potomac, Maryland, for $217,000 approximately 10 years ago. Kase is approached b

y a real estate agent representing a client who would like to exchange a parcel of land in North Carolina for Kase’s Maryland property. Kase agrees to the exchange.
Mathematics
1 answer:
Advocard [28]3 years ago
7 0

The question is incomplete.

The complete question is

Kase, an individual, purchased some property in Potomac, Maryland, for $217,000 approximately 10 years ago. Kase is approached by a real estate agent representing a client who would like to exchange a parcel of land in North Carolina for Kase’s Maryland property. Kase agrees to the exchange.

What is Kase’s realized gain or loss, recognized gain or loss, and basis in the North Carolina property in each of the following alternative scenarios? (Loss amounts should be indicated by a minus sign. Leave no answer blank. Enter zero if applicable.)

a. The transaction qualifies as a like-kind exchange and the fair market value of each property is $907,500.

b. The transaction qualifies as a like-kind exchange and the fair market value of each property is $199,000.

Answer:

A. Realized gain(907500-217000)= 609,500

Recognized gain= 0

Adjustment basis in new property=217,000.

B. Realised loss ( 199000 - 217000) = 18,000

Recognized loss= 0

Adjusted basis in new property= 217000

Step-by-step explanation:

A.

Realized gain(907500-217000)= 609,500

Recognized gain= 0

Adjustment basis in new property=217,000.

Here , we find that Kase has realised gain of $ 690,500 but recognised gain of $ 0 . It is so because Kase did not receive any boot and the transaction is a like-kind exchange. Therefore, the adjusted basis in new property = $ 217,000 ( as no gain is recognised ).

B.

Realised loss ( 199000 - 217000 )= 18,000

Recognized loss= 0

Adjusted basis in new property= 217000

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9*3=27

27*3=81

So the sequence will be 3,9,27,81

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7 0
3 years ago
A man has a collection of dimes and nickels with a total value of $1.70. if he has 8 more dimes than nickels how many of each co
Oxana [17]

Answer:

Step-by-step explanation:

We first have to write an expression for each of the types of coins in terms of one of them.  If he has 8 more dimes than nickels, let's call nickels "x".  That means that dimes is "x + 8".  The value of a nickel is .05, so the expression relating the number of nickels to the worth of the nickel is .05x.  The value of a dime is .10, so the expression relating the number of dimes to the worth of the dime is .10(x + 8).  The total value of these coins is 1.70:

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6 0
3 years ago
A person is walking at a rate of 9 feet every 4 seconds.(b) Given the rate in (a), how far would this
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Answer:

2.25 feet

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Step-by-step explanation:

Given that the person travels 9 feet every 4 seconds, it means that in one second, the distance walked

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3 years ago
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Answer:

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Multiply the first equation by 2

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Multiply the first equation by 2

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Multiply the first equation by 2

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7 0
3 years ago
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The answer is 5/24 
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