Randy Owns 115 Acres of Land with a Fair Market

question 106

Multiple Choice

Randy owns 115 acres of land with a fair market value of $57,000. He purchased the land as an investment for $35,000 in 1993. Randy trades the land for a 122-acre parcel adjacent to other property he owns. The 122 acres has a value of $57,000, and the exchange qualifies for like-kind deferral treatment. What is Randy's realized gain on the exchange?

• A)$- 0 -
• B)$22,000
• C)$35,000
• D)$57,000
• E)$79,000

---

Definitions:

Nutrient Context

The evaluation of foods and nutrients within the larger framework of the diet and its overall effects on health.

Food Labels

Information provided on packaging of food products, detailing nutritional content, ingredients, and other relevant information.

Complete Proteins

Proteins that contain all the essential amino acids in sufficient amounts for human health, commonly found in animal products and a few plant sources.

Plant Sources

Refers to plants or parts of plants used as food, materials, or energy.