Mary Exchanged an Office Building Used in Her Business for Some

question 56

Multiple Choice

Mary exchanged an office building used in her business for some land. Mary originally purchased the building for $45,000 and it had an adjusted basis of $20,000 at the time of the exchange. The land had a fair market value of $40,000. Mary also gave $4,000 to the  in the transaction. What is Mary's adjusted basis in the land after the exchange?

• A) $20,000.
• B) $24,000.
• C) $36,000.
• D) $40,000.
• E) None of the choices are correct.

Understand the significance of individual and organizational resistance to change.

Understand the components and importance of audience analysis in creating effective business communications.

Master the three-step writing process for business communications.

Allocate appropriate project time for each phase of the business communication process.

---

Definitions:

Computing Mean

The process of calculating the average value of a set of numbers by adding them together and dividing by the quantity of numbers.

ΣX / N

The formula for calculating the mean of a set of data, where ΣX is the sum of all data points and N is the number of data points.

Arithmetic Average

Another term for the mean, calculated as the sum of all values divided by the number of values.

Frequency Value

The count of how many times a specific data point or value appears within a dataset.