Roscoe Receives Real Estate Appraised at $200,000 and Cash of $10,000

question 26

Multiple Choice

Roscoe receives real estate appraised at $200,000 and cash of $10,000 from Cathy in exchange for Roscoe's investment realty with a basis of $170,000. Roscoe plans to hold the new realty for investment. What is the amount realized for the property given up by Roscoe?

• A)$160,000
• B)$170,000
• C)$190,000
• D)$200,000
• E)$210,000

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