Carlos Bought a Building for $113,000 in 2013

question 7

Multiple Choice

Carlos bought a building for $113,000 in 2013.He added an addition to the building for $26,000.In 2017,he sold it for $212,000.What was his long-term capital gain (ignore depreciation) ?

• A)$0
• B)$47,000
• C)$73,000
• D)$99,000
• E)$212,000

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Definitions:

Local Human Capital

The collective skills, knowledge, and experience possessed by individuals within a local population, contributing to its economic development.

Structural Capital

The knowledge, processes, and intellectual property that remain within an organization when its employees have gone home for the day.

Financial Capital

Economic resources in the form of money or other assets owned by individuals or organizations, used to fund business ventures or investments.