Business, 20.12.2019 05:31 tfracciscoramon

Peroni corporation sold a parcel of land valued at $300,000. its basis in the land was $250,000. for the land, peroni received $150,000 in cash in the current year and a note providing peroni with $150,000 in the subsequent year. what is peroni's recognized gain in the current and subsequent year, respectively?

multiple choice

$0, $50,000.

$10,000, $40,000.

$25,000, $25,000.

$50,000, $0.

none of the choices are correct.

Answers: 1

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Peroni corporation sold a parcel of land valued at $300,000. its basis in the land was $250,000. for...

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