Vijay sells land and receives $5,000 cash, a motorcycle worth $2,000, two tickets to the Super Bowl with a total face value (cost) of $800 but worth $1,200, and the buyer assumes the mortgage on the land of $12,000 What is Vijay 's amount received in this transaction a $5,000 b $7,800 c $8,200 d $1...

e 20200 The amount received in the transacti ...

Vijay sells land and receives $5,000 cash, a motorcycle worth $2,000, two tickets to the Super Bowl

Question:

Vijay sells land and receives $5,000 cash, a motorcycle worth $2,000, two tickets to the Super Bowl with a total (cost) of $800 but worth $1,200, and the buyer assumes the mortgage on the land of $12,000. What is Vijay's amount received in this transaction?
a. $5,000
b. $7,800
c. $8,200
d. $19,800
e. $20,200
Face Value
Face value is a financial term used to describe the nominal or dollar value of a security, as stated by its issuer. For stocks, the face value is the original cost of the stock, as listed on the certificate. For bonds, it is the amount paid to the...