O&V sold an asset with a $78,300 adjusted tax basis for $100,000. The purchaser paid $30,000 in
Fantastic news! We've Found the answer you've been seeking!
Question:
O&V sold an asset with a $78,300 adjusted tax basis for $100,000. The purchaser paid $30,000 in cash and assumed O&V’ s $70,000 mortgage on the asset. Compute O&V’ s net cash flow from the sale assuming a 35% tax rate.
A. $22,405
B. $13,095
C. $14,105
D. None of the above
Related Book For
Posted Date: