Several years ago,Lucas purchased extra grazing land for his ranch at a cost of $120,000.In 2012,the land is condemned by the state for development as a highway maintenance depot.Under the condemnation award,Lucas receives $300,000 for the land.Within the same year,he replaces the property with other grazing land.What is Lucas's tax situation if the replacement land cost:
Definitions:
Beta Coefficient
A measure of a stock's volatility in relation to the overall market; a higher beta indicates greater volatility.
Portfolio
A range of investments held by a person or organization, diversified across asset classes, instruments, or sectors, to manage risk and return.
CAPM
Capital Asset Pricing Model; a model that describes the relationship between systematic risk and expected return for assets, particularly stocks.
Expected Return
The expected profit from an investment, calculated by considering the likelihood of various potential results.
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