Hector Receives a Gift of Rare Books Valued at $7,000

question 85

Multiple Choice

Hector receives a gift of rare books valued at $7,000. The books have an adjusted basis of $11,000 to the donor. Several months later, Hector sells the books to a professional collector for $8,000. What is Hector's gain or (loss) on the sale?

• A)$1,000 gain
• B)$4,000 gain
• C)No gain or loss is recognized
• D)$1,000 loss
• E)$3,000 loss

---

Definitions:

Leucine Zipper Proteins

A type of protein that contains a specific motif which allows it to dimerize and bind DNA, playing key roles in regulating gene expression.

Homodimers

Molecular complexes formed from two identical protein molecules that bind together, often to become functionally active.

Heterodimers

Molecular complexes formed by the pairing of two non-identical molecules, often proteins, which can have unique functional properties.

Gene Regulation

The process by which cells control the expression and activity of their genes, ensuring that the right genes are expressed at the right times and levels, enabling cells to respond to environmental changes and maintain homeostasis.