Albert Purchased a Tract of Land for $140,000 in 2013

question 95

Multiple Choice

Albert purchased a tract of land for $140,000 in 2013 when he heard that a new highway was going to be constructed through the property and that the land would soon be worth $200,000.Highway engineers surveyed the property and indicated that he would probably get $180,000.The highway project was abandoned in 2016 and the value of the land fell to $100,000.What is the amount of loss Albert can claim in 2016?

• A)$40,000
• B)$60,000
• C)$80,000
• D)$100,000
• E)None of the above

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Definitions:

Extrinsic Rewards

Benefits or incentives given to an individual that are external to the task being performed, such as money, praise, or awards.

Creative Behaviour

Actions demonstrating ingenuity, originality, or the ability to generate innovative ideas and solutions.

Autonomy

The degree of independence or self-direction an individual or entity has to make their own choices and decisions.

Positive Affect

The extent to which an individual feels enthusiastic, active, and alert, representing a state of high energy and pleasurable engagement.