Trudo Corporation Has a Building That It Needs to Sell

question 40

Multiple Choice

Trudo Corporation has a building that it needs to sell or exchange because of growth in its business.If Trudo sells the building, it will have a gain of $450,000.What is the amount of taxes that Trudi will avoid paying if it can exchange the building? The corporation has $1,000,000 of taxable income from operations for the current year.

• A)$94,500
• B)$153,000
• C)$175,500
• D)$450,000

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Definitions:

Restocked

The process of replenishing goods or materials that have been used or sold, keeping supplies at a necessary level.

Used Indefinitely

Describes items or resources that can be utilized for an unlimited period without a predetermined end date.

Repaired

The process of fixing or mending something that was broken or damaged.

Incidental Supplies

Items or materials used in the course of medical care or treatment that are not directly related to a specific patient's diagnosis or treatment.