Rolf Exchanges an Office Building Worth $150,000 for Investment Land

question 19

Multiple Choice

Rolf exchanges an office building worth $150,000 for investment land worth $175,000.He also provided stock worth $25,000.Rolf's adjusted basis in the building and stock is $130,000 and $11,000,respectively.How much gain will Rolf recognize on the exchange?

• A)$0
• B)$14,000
• C)$20,000
• D)$34,000

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Definitions:

Cell Cycle

The series of events that take place in a cell leading to its division and duplication, including phases such as interphase, mitosis, and cytokinesis.

Interphase

Stages of the cell cycle (G1, S, G2) during which growth and DNA synthesis occur when the nucleus is not actively dividing.

Interphase

The phase of the cell cycle during which the cell grows, replicates its DNA, and prepares for cell division, but is not actively dividing.

Chromosomes Duplicate

This is a cellular process where chromosomes are replicated before a cell divides, ensuring each new cell receives a complete set of chromosomes.