32. Rafael sold an asset to Jamal. What is Rafael’s amount realized on the sale in each of the following alternative scenarios?

a. Rafael received $80,000 cash and a vehicle worth $10,000.

Rafael also paid $5,000 in selling expenses.

b. Rafael received $80,000 cash and was relieved of a

$30,000 mortgage on the asset he sold to Jamal. Rafael also paid a commission of $5,000 on the transaction.

c. Rafael received $20,000 cash, a parcel of land worth

$50,000, and marketable securities of $10,000. Rafael also paid a commission of $8,000 on the transaction.