Roger bought two plots of land for a total of $120,000. When he sold the first plot, he made a profit of 15%. When he sold the second, he lost 10%. His total profit was $5,500. How much did he pay for each piece of land?

Five years ago, Teresa purchased an investment property for $189,795.  He sold it today for $249,999.  Based on this information, what was her annualized rate of return? 5.66% 7.59% 6.18% 5.75%

When Barry’s grandmother passed away, she gave Barry a diamond ring that was worth $6,000 at the time of death. Barry’s grandmother had purchased the ring for $5,400. What is Barry’s basis in the ring if he sells it for $7,000? What if he sells it for $5,000? What if he sells it for $5,800?

Brittany purchased an industrial lot in Sudbury for $1,100,000 and it was assessed at 65% of its purchase price. The annual property tax on the lot is 25 mills. a. Calculate the assessed value of the lot. Round to the nearest cent b. Calculate the property tax she would have to pay every year. Round to the nearest cent

Roberto invested 18,000 in a chicken production operation. Using nonrecourse notes, the business purchases 120,000 worth of grain to feed the chickens. If Robertos share of the expense is 26,000, how much can he deduct?

Some time ago. Tracie purchased two acres of land costing $67,900. Today, that land is valued at $64,800. How long has she owned this land if the price of the land has been decreasing by 1.5 percent per year?

Bernadette sold her home. She received cash of $40,000, the buyer assumed her mortgage of $180,000, and she paid closing costs of $2,300 and a broker’s commission of $7,000. What is the amount realized on the sale? If she has a basis in the home of $138,000, what is her realized gain or loss on the sale? What is the character of the recognized gain or loss? How would your answer to (c) change if Bernadette sold a building used by her sole proprietorship rather than her personal residence?

On Robin’s birthday, his grandmother gave him a ring that was worth $6,000 at the time of the gift. Robin’s grandmother had purchased the ring for $5,400. What is Robin’s basis in the ring if he sells it for $7,000? What if he sells it for $5,000? What if he sells it for $5,800? fill in the blank regardless of sales price

Kong originally sold his home for $96,000. At that time, his adjusted basis in the home was $99,000. Five years later, he repossessed the home when the balance of the note was $91,000. He resold it within one year for $105,000. Original sale expenses were $1,250, and resale expenses were $1,550. Repossession costs were $3,000. He incurred $1,000 for improvements prior to the resale. What is Kong's recomputed gain? a. $4,200 b. $6,800 c. $11,000 d. $14,000

Lauren purchased a ​$50,000 ​T-bill for ​$46,919. A few months​ later, Lauren sold the​ T-bill for ​$48,453. What was Lauren​'s return on the​ T-bill? (Round to two decimal​ places.)