Bob Owns a Rental Property That He Bought Several Years

question 103

Multiple Choice

Bob owns a rental property that he bought several years ago for $250,000. He has taken depreciation on the house of $35,000 since buying it. He sells it in 2019 for $290,000. His selling expenses are $12,000 for the year. What is Bob's realized gain on the sale?

• A)$28,000
• B)$53,000
• C)$63,000
• D)$75,000
• E)None of these

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Definitions:

Memorable Vocal

A distinctly memorable and recognizable voice or way of speaking that leaves a lasting impression.

Short-Term Memory

The cognitive function responsible for temporarily holding a limited amount of information available for processing and use in overt tasks.

Long-Term Memory

The aspect of our memory system that is capable of storing large amounts of information for potentially limitless periods.

Storage Capacity

Storage capacity refers to the maximum amount of information or data that can be stored in a particular medium or device.