Nat is a salesman for a real estate developer. His employer permits him to purchase a lot for $75,000. The employer's adjusted basis for the lot is $45,000, and its normal selling price is $90,000. What is Nat's recognized gain and his basis for the lot? Recognized gainBasis a. $0$90,000 b. $30,000$105,000 c. $15,000$75,000 d. $15,000$90,000 e. $0$75,000
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Nat is a salesman for a real estate developer. His employer permits him to purchase a lot for $75,00...
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