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Off H AutoSave final version test 3 on 06272020 - Protected View - Search File Page Layout Formulas Data Review View Help PROTECTED VIEW Be

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Off H AutoSave final version test 3 on 06272020 - Protected View - Search File Page Layout Formulas Data Review View Help PROTECTED VIEW Be carefulfiles from the Internet can contain viruses. Unless you need to edit, it's safer to stay in Protected View Home Insert J1 fo D 5 5 B C E F G 2 John purchased an office building in 2004 for $400,000. In 2016 he sells the building for $750.000. John's remaining mortgage on the building was $200,000. which buyer assumed. Over the years John replaced windows and door at a cost of $40,000 and repained the building at a cost of $15000. John had take a depreciation of $200,000 at the time of sale. 3 a Calculate amount realized by John 950,000 b CALCULATE REALIZED GAIN ON THE SALE OF BUILDING. Basis 400,000+40000-200000 Realized Gain 240,000 710,000

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