Please Need Answer of this Question Sarah sold her restaurant "Taste of Home" for $450,000. Shepaid a broker commission of $13,500. The building's originalcost was $385,000 with accumulated depreciation of $42,000.What is Sarah's realized gain or loss?A) $93,500B) $107,000C) $80,000D) $52,000

STEPS: 1. Calculate the Net Sales Price• Net Sales Price = Sale Price - Broker Commission 2.…

Answered: Sarah sold her restaurant "Taste of…

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

20th Edition

ISBN:9780357110362

Author:Murphy

Publisher:Murphy

Chapter10: Cost Recovery On Property: Depreciation, Depletion, And Amortization

Section: Chapter Questions

Problem 52P

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Sarah sold her restaurant "Taste of Home" for $450,000. She paid a broker commission of $13,500. The building's original cost was $385,000 with accumulated depreciation of $42,000. What is Sarah's realized gain or loss? A) $93,500 B) $107,000 C) $80,000 D) $52,000