Albert Purchased a Tract of Land for $140,000 in 2009

question 137

Multiple Choice

Albert purchased a tract of land for $140,000 in 2009 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 2012 and the value of the land fell to $100,000.What is the amount of loss Albert can claim in 2012?

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

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Definitions:

Reagents

Reagents are substances or compounds added to a system to cause a chemical reaction or test if a reaction occurs.

Conversion

The process of changing a reactant to a product through a chemical reaction, often quantified in terms of yield or efficiency.

Reagents

Substances or compounds that are added to a system to bring about a chemical reaction or are used to test for the presence of specific substances.

Following

Pertains to the act or process of coming after something in sequence or in time.