Albert Purchased a Tract of Land for $140,000 in 2006

question 183

Multiple Choice

Albert purchased a tract of land for $140,000 in 2006 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 2010 and the value of the land fell to $100,000.What is the amount of loss Albert can claim in 2010?

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

---

Definitions:

Project Analyst

A professional who evaluates and reviews the performance, cost, and timeline of projects to ensure success and efficiency.

Near-Site Training

Training conducted at a location close to the workplace or within a short distance, facilitating easy access for participants.

Bona Fide Occupational Qualification

A Bona Fide Occupational Qualification (BFOQ) is a legal term that allows employers to hire individuals based on attributes normally considered discrimination if they are reasonably necessary to the normal operation of a particular business.

Equal Employment Opportunity Commission

A federal agency in the United States charged with enforcing laws that prohibit discrimination in employment.