Pukekohe Ltd sells land that originally cost $150 000 to Taupo Ltd for $230 000 when the land\'s fair value is $215 000 and then enters into a canceller lease agreement to use the land for 2 years at an annual rental of $2000. In the current year, how much profit would Pukekohe Ltd record on the sale of the land?

 a. $15 000 

b. $80 000 

c. $65 000 

d. Nil\n

Answer rating: 100% (QA)

65000 this is the profit becaus... View the full answer