Recognize upon the sale
Marvin sold his sister, Sue, some stock for the $20,000 that he had bought two years ago for $25,000. Nine months later, Sue sold the stock for $27,000. How much gain does Sue recognize upon the sale?
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One leg of the right triangle is 50. A line parallel to other leg and at the distance 20 from that leg cuts off right trapezoid of area 5,20. Determine the lengths of the bases of the trapezoid. Solve this problem.
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Michael and Becky have been living in house since their marriage but they're planning now to move. If Michael and Becky sell their home on December 15, 2012 for $500,000, how much taxable gain should they report upon their 2012 joint tax return?
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Sam has a loan that needs a single payment of $4,000 at the end of three years. The loan's interst rate is 6%, compounded semiannually. How much did Sam borrow?
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