Sid's Home Was Destroyed by Fire

question 69

Multiple Choice

Sid's home was destroyed by fire.He had purchased the home 18 months ago for $950,000.He received $1,300,000 from his insurance company to replace the home.If he fails to rebuild the home or acquire a replacement home in the required time, how much gain must he recognize on this conversion?

• A)$350,000
• B)$162,500
• C)$100,000
• D)$0

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Definitions:

Unconscious Patient

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23-Gauze Needle

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Lorazepam

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