Stephanie's Building,which Was Used in Her Business,was Destroyed in a Fire.Stephanie's

question 6

Multiple Choice

Stephanie's building,which was used in her business,was destroyed in a fire.Stephanie's adjusted basis in the building was $175,000,and its FMV was $210,000.Stephanie filed an insurance claim and was reimbursed $200,000.In that same year,Stephanie invested $180,000 of the insurance proceeds in another business building.If the proper election is made,Stephanie will recognize gain of

• A)$ 0.
• B)$15,000.
• C)$20,000.
• D)$25,000.

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Definitions:

Dead Zone

A region in a control system's response where small input changes produce no output change, leading to inaccuracy or unresponsiveness.

Pilot Control Device

A manual or automatic apparatus used to start, stop, or regulate the operation of machines via control circuits.

Loss of Power

The condition where electrical power supply to a device, system, or area is interrupted or cut off.

Hand-off-automatic Circuit

A control circuit allowing equipment operation in hand (manual control), off, or automatic modes, depending on the selected setting.