Question
The country of Aquilonia has a tax system identical to that of Canada. Suppose someone in Aquilonia bought a parcel of land for $20 000
The country of Aquilonia has a tax system identical to that of Canada. Suppose someone in Aquilonia bought a parcel of land for $20 000 in 1960 when the price index equalled 100. In 2002, the person sold the land for $100 000, and the price index equalled 600.
a. $64 000 b. $36 000 c. $16 667 d. $3333
Why answer is B can you show the steps?
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Financial Accounting
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
7th Edition
978-0470477151, 978-0-470-5562, 470556242, 0-470-55624-2, 9780470556245, 978-0470507018
