This Year,Fred and Wilma,married Filing Joint,sold Their Home (Sales Price

question 45

Multiple Choice

This year,Fred and Wilma,married filing joint,sold their home (sales price $750,000; cost $200,000) .All closing costs were paid by the buyer.Fred and Wilma owned and lived in their home for 20 years.How much of the gain is included in gross income?

• A)$550,000
• B)$300,000
• C)$250,000
• D)$50,000
• E)None of the choices are correct

---

Definitions:

Sinoatrial Node

A group of specialized cells located in the right atrium of the heart that generate electrical impulses, acting as the heart's natural pacemaker.

Purkinje Fibers

Specialized muscle fibers located in the heart's ventricles that play a key role in conducting electrical signals and coordinating the heart's contractions.

Repolarization

Reestablishment of a polarized state in a muscle or nerve fiber following contraction or conduction of a nerve impulse. On an ECG, the time of recovery before another contraction.

Electrodes

Conductive materials that allow the flow of electrical current in and out of a circuit or solution.