D Exchanged an Apartment Complex That He Had Owned for Eight

question 22

Multiple Choice

D exchanged an apartment complex that he had owned for eight years for farm land.The apartment complex was worth $1,050,000 and D's basis was $475,000.The transferee assumed a note secured by an interest in the property of $800,000.D received $10,000 cash and assumed liability for loans against the farm land he received in the amount of $700,000.How much is D's gain recognized and his basis in the farm land (fair market value = $940,000) , respectively?

• A)$110,000 and $475,000
• B)$110,000 and $465,000
• C)$0 and $365,000
• D)$10,000 and $375,000

Understand the use of dummy variables in regression models.

Develop the ability to conduct regression analysis and interpret its output.

Understand the global political climate and key events leading up to and during World War II.

Analyze the motivations and actions of key leaders and countries involved in World War II.

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Definitions:

Tangible Products

Physical items that can be touched, seen, and usually measured, such as books, furniture, and food items.

Finance

The management of large amounts of money, especially by governments or large companies.

Unilateral Transfer

A one-way transfer of money, goods, or services from one country to another, without a direct or equivalent return.

Foreign Investments

Investments made by individuals, companies, or governments in assets or business ventures in another country.