Answer this Question Martin purchased two apartments for a total of $180,000. When he sold the firstapartment, he made a 20% profit. When he sold the second apartment, he incurreda 12% loss. His total profit was $6,800.How much did he pay for each apartment?

So, Martin paid $88,750 for the first apartment and $91,250 for the second apartment.

Answered: Martin purchased two apartments for a…

CONCEPTS IN FED.TAX.,2020-W/ACCESS

20th Edition

ISBN:9780357110362

Author:Murphy

Publisher:Murphy

Chapter11: Property Dispositions

Section: Chapter Questions

Problem 71IIP

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Martin purchased two apartments for a total of $180,000. When he sold the first apartment, he made a 20% profit. When he sold the second apartment, he incurred a 12% loss. His total profit was $6,800. How much did he pay for each apartment?