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claire purchased a 3-acre empty tract of land for $100,000 and agreed to pay homebuilder $250,000 to contrust a new home for her. in order
claire purchased a 3-acre empty tract of land for $100,000 and agreed to pay homebuilder $250,000 to contrust a new home for her. in order to pay for this, she put down $100,000 of her own savings and borrowed $250,000 from the bank of oklahoma. her $250,000 loan was obtained at a 5.25% interst rate. After living in the home for 3 years, claire added a swimming pool to the property for $50,000. five years later, claire had paid the balance on the mortgage down to $200,000 and wanted to refiannce at a lower interst rate. because rates were low and her property now had a fair market value of $400,000 she was able to borrow $350,000 from the bank. with that she the old loan and invested $150,000 in stocks. what is claire's adjusted basis in the whole property
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