Antonio Owns Land Held for Investment with a Basis of $28,000.The

question 120

Multiple Choice

Antonio owns land held for investment with a basis of $28,000.The city of Lafayette exercises the right of eminent domain and Antonio receives a payment of $48,000.What is Antonio's realized gain?

• A)$0
• B)$20,000
• C)$28,000
• D)$48,000

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Definitions:

Situational

Pertaining to or influenced by the external environment, circumstances, or conditions rather than by individual traits or motivations.

Personality Characteristics

Traits and qualities that describe an individual's consistent behaviors, thoughts, and feelings.

Stable

Characterizing something that is unchanging, consistent, or not easily disturbed or upset over time.

Actor-observer Effect

The tendency to attribute one's own actions to external causes while attributing other people's behaviors to their internal characteristics.