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Che sells real property for $600,000. The buyer pays $10,000 in property taxes that had accrued during the year while the property was still legally
Che sells real property for $600,000. The buyer pays $10,000 in property taxes that had accrued during the year while the property was still legally owned by Che. In addition, Che pays $30,000 in commissions and $6,000 in legal fees in connection with the sale. How much does Che realize (the amount realized) from the sale of their property? a. $574,000 b. None of the choices presented are correct. c. $600,000 d. $554,000 e. $564,000
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