G M: \"TakeTshFinalE... x 1.\" 22 H at Q is I H u u u I 4} 7 X I .' (- , httper'r'hh.uhd.edu.r'wehappsfassessmentjtaker'lauMhyspkourse_asse55ment_id=_l13785_l &(nurse_id=_55067_1 &{ontent_id=_l 3194 C i I 0' Search y Remaining Time: 32 minutes, 46 seconds. V Question Completion Status: QUESTION 30 Lynn purchases a house for $5 2,000. She converts the propeny to Rental Property when the Fair Market Value is $115,000. Aer deducting Depreciation (Cost Recovery) Expense of$1,130 Lynn sells the house for $120,000. \"What is Lynn's Recognized Gain or Recognized Loss? 0 369:130 Recognized Gain. 0 $6.130 Recognized Gain. 0 $31630 Recognized Gain. 0 No Recognized Gain or Recognized Loss. QUESTION 31 Nikki purchased a new business asset (threeyear property) on July 23, 2015 at a cost of$60,000. She did not; elect to expmse any ofthe asset under Section 179 nor did she elect StraightiLine Cost Recovery (Depreciation) Detamine the Cost Recovery (Depreciation) deduction for 2015. (The applicable Statutory Percentage for the asset for 2015 is .3333) 0 $50,000. 0 $20;000. 0 $10,000, 0 $30,000. Click Save and Submit to save and submit. Click SaveAHAnswers to save all answers. Salami Answers ' Save and Submit A 2 points Save Answer 2 points Save