Solved: If pierre had a basis in the land of 10000 and incurred, Accounting Basics

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If pierre had a basis in the land of 10000 and incurred

Question - Pierre sold a parcel of land for 50,000 he received 10,000 this year and signs a contract to receive four additional payments of 10,000 each plus interest if Pierre had a basis in the land of 10,000 and incurred 2,500 in selling expenses what is his gross profit percentage?

a-10%

b-25%

c-75%

d-100%

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Accounting Basics: If pierre had a basis in the land of 10000 and incurred

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Accounting Basics: If pierre had a basis in the land of 10000 and incurred

Reference No:- TGS02610954

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