Mitchell, a calendar year taxpayer, is the sole proprietor of a fast-food restaurant. His adjusted basis for the building and the related land is $450,000. On March 12, 2017, state authorities notify Mitchell that his property is going to be condemned so that the highway can be widened. On June 20, Mitchell's property is officially condemned, and he receives an award of $625,000. Because Mitchell's business was successful in the past, he would like to reopen the restaurant in a new location a. what is the earliest date Mitchell can acquire a new restaurant and qualify for § 1033 postponement? March 12, 2017 Feedback Check My Work b. On June 30, Mitchell purchases land and a building for $610,000. Assuming that he elects postponement of gain under § 1033, what is his recognized gain? Mitchell's recognized gain is $ Feedback Check My Work c. What is Mitchell's adjusted basis for the new land and building? Mitchell's adjusted basis for the new land and building i$450,000 V Feedback Check My Work d. If he does not elect § 1033, what are Mitchell's recognized gain and adjusted basis? If Mitchell does not elect § 1033, his recognized gain is , and his basis for the new land and building is
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The simple interest in a loan of $200 at 10 percent interest per year is
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Advertisers are usually very conscious of their audience. choose an issue of a popular magazine such as time, sports illustrated, vanity fair, rolling stone, or the like. from that issue select three advertisements to analyze. try to determine the audience being appealed to in each advertisement and analyze the appeals used to persuade buyers. how might the appeals differ is the ads were designed to persuade a different audience.
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When patey pontoons issued 4% bonds on january 1, 2018, with a face amount of $660,000, the market yield for bonds of similar risk and maturity was 5%. the bonds mature december 31, 2021 (4 years). interest is paid semiannually on june 30 and december 31?
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Business, 22.06.2019 20:30
You are in the market for a new refrigerator for your company’s lounge, and you have narrowed the search down to two models. the energy efficient model sells for $700 and will save you $45 at the end of each of the next five years in electricity costs. the standard model has features similar to the energy efficient model but provides no future saving in electricity costs. it is priced at only $500. assuming your opportunity cost of funds is 6 percent, which refrigerator should you purchase
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Mitchell, a calendar year taxpayer, is the sole proprietor of a fast-food restaurant. His adjusted b...
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