Question Number 4

Question 4 6 pts Brenda Baines sells land to Carla Chandler in exchange for $15,000 cash and a piece of equipment with an adjusted basis (to Carla) of $15,000 and a fair market value of $20,000. The land was subject to a $25,000 mortgage which Carla assumed. Brenda incurred $2,500 in selling expenses What is the amount realized by Brenda? O $60,000 o $52.500 o $55,000 $57,500