Top Posters
Since Sunday
14
o
6
6
G
3
c
3
q
3
m
3
j
3
s
2
b
2
j
2
u
2
Home Q & A Board Other Fields Homework Help Business Accounting
New Topic  
Augustus1 Augustus1
wrote...
Go to Answer
Posts: 1894
Rep: 1 0
7 years ago
Kevin sold property with an adjusted basis of $58,000. The buyer assumed Kevin's existing mortgage of $40,000 and agreed to pay an additional $60,000 consisting of a cash down payment of $40,000, and payments of $4,000, plus interest, per year for the next 5 years. Kevin paid selling expenses totaling $2,000. What is Kevin's gross profit percentage?
A) 33 1/3%
B) 40%
C) 60%
D) 66 2/3%
Textbook 
Prentice Hall's Federal Taxation: 2011: Individuals

Prentice Hall's Federal Taxation: 2011: Individuals


Edition: 14th
Authors:
Read 205 times
2 Replies
We do not judge the people we love.

Prentice Hall's Federal Taxation by Kramer
Replies
Answer verified by a subject expert
Yoko900Yoko900
wrote...
#1
Top Poster
Posts: 1876
Rep: 52 0
7 years ago
Sign in or Sign up in seconds to unlock everything for free
More solutions for this book are available here
1

Related Topics

Augustus1 Author
wrote...
#2
7 years ago
Your explanation helped, amazing amazing!
We do not judge the people we love.

Prentice Hall's Federal Taxation by Kramer
New Topic      
Quick Reply
Explore
Post your homework questions and get free online help from our incredible volunteers
  1208 People Browsing
Start New Topic Take the Tour CoursesNew Study Tools Topics Trending Browse by Textbook
Live Chat
Related Images
  
 4253
  
 4475
  
 1101
Your Opinion
Which of the following is the best resource to supplement your studies:
Votes: 300
Previous poll results: How often do you eat-out per week?