The following costs result from the production and sale of 1,000 drum sets manufactured by Tight Drums Company for the year ended December 31. 2019. The drum sets sell for $500 each. The company has a 25% income tax rate. For each dollar of sales, how much is left to cover fixed costs and contribute to operating income.

Brody and tanya recently sold some land they owned for $150,000. they received the land five years ago as a wedding gift from brody's aunt jeanette. she had already given them cash equal to the annual exclusion during that year. aunt jeanette purchased the land many years ago when the property was worth $20,000. at the time of the gift, the property was worth $100,000 and aunt jeanette paid $47,000 in gift tax. what is the long term capital gain on the sale of the property