Brenda Baines sells land to Carla Chandler for $15,000 cash and a piece of equipment with an adjusted basis of 43. $15,000 and a fair market value of $20,000. Th e land was subject to a $25,000 mortgage which Carla assumed. Brenda incurred $2,500 in selling expenses. What is the amount realized by Brenda?

a. $55,000

b. $60,000

c. $52,500

d. $57,500

Answer rating: 100% (QA)

Amount realized by Brenda Cash ... View the full answer