Question
Que purchased land as an investment for $25,000 by paying $18,000 cash and signing a mortgage for $7,000. Over a year later Que trades that
Que purchased land as an investment for $25,000 by paying $18,000 cash and signing a mortgage for $7,000. Over a year later Que trades that land for a new piece of land worth $29,000, and the other party assumes the $7,000 mortgage. (a) How much if any gain does Que realize on the swap?
(b) How much if any gain does Que recognize on the swap?
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Macroeconomics
Authors: Olivier J. Blanchard
7th Global Edition
1292160500, 978-1292160504
