Bill Binkley's Office Building with a Basis of $480,000 Is

question 16

Multiple Choice

Bill Binkley's office building with a basis of $480,000 is condemned by the state. fte state awards him $600,000 and he then purchases a new office building for $520,000. What is Bill's basis in the new residence?

• A) $480,000
• B) $520,000
• C) $600,000
• D) $400,000

---

Definitions:

Update Mechanism

A process or system used to make changes or improvements to software or data, ensuring the latest version is available.

Risk Transference

The strategy of shifting potential risk from one party to another, often through insurance or contracts.

FireEye

A cybersecurity company known for providing various products and services aimed at stopping advanced cyber threats.

Security Software

Programs designed to protect computer systems and information from harm, theft, and unauthorized access.