Question
Required information Skip to question [The following information applies to the questions displayed below.] Moran owns a building he bought during year 0 for $181,000.
Required information
Skip to question
[The following information applies to the questions displayed below.]
Moran owns a building he bought during year 0 for $181,000. He sold the building in year 6.During the time he held the building, he depreciated it by $53,750.
What are the amount and character of the gain or loss Moran will recognize on the sale in each of the following alternative situations?(Loss amounts should be indicated by a minus sign. Enter NA if a situation is not applicable. Leave no answer blank. Enter zero if applicable.)
a.Moran received $164,000.
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