Four Years Ago, David Gave Land to Mike That He

question 14

Multiple Choice

Four years ago, David gave land to Mike that he purchased for $70,000, which is presently worth $100,000. Three years ago, Mike exchanged the land (then worth $150,000) along with a $100,000 cash contribution made by David for a new piece of land worth $250,000. The new land is titled with David and Mike as joint tenants with the right of survivorship. When Mike dies this year, the land is worth $300,000. Mike's estate will include

• A)$0.
• B)$150,000.
• C)$180,000.
• D)$300,000.

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4-Pin Fan

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3-Pin Motherboard

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A device used to join electrical terminations and create an electrical circuit.

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