A Retail Building Used in the Business of a Sole

question 84

Multiple Choice

A retail building used in the business of a sole proprietor is sold on March 10,2013,for $342,000.The building was acquired in 2003 for $400,000 and straight-line depreciation of $104,000 had been taken on the building.What is the maximum unrecaptured § 1250 gain from the disposition of this building?

• A)$400,000.
• B)$322,000.
• C)$104,000.
• D)$26,000.
• E)None of the above.

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Definitions:

Exchange Rate

The worth of a particular currency when converted into a different currency.

France

A country located in Western Europe known for its historical and cultural significance, notable landmarks, and as a global center for art, science, and philosophy.

Exchange Rate

The value of one currency for the purpose of conversion to another, indicating how much of one currency can be exchanged for another.

American Goods

Products manufactured, produced, or grown within the United States.