Perry acquired raw land as an investment 16 years ago. the land cost $50,000. in the current year, the land is sold for a total sales price of $120,000, consisting of $10,000 cash and the buyer's note for $110,000. assume that perry uses the installment method to recognize the gain and receives only the $10,000 down payment in the year of sale. how much gain should perry recognize in the current year?

The cost of the land = $50000

The selling price of the land = $120000

Total profit gained on the land =

Total amount received in cash in current Year = $10000

As given , let us assume that Perry uses the installment method to recognize the gain

Profit to be recognized in current year using installment method =

(Total Profi *Cash Received) /Sales Consideration

= =5833.33

Hence, Perry should recognize a gain of $5833.33

answer: i believe the answer is e

step-by-step explanation:

(b) 240

step-by-step explanation:

first, we use the pythagorean formula using the given side lengths to find x. then we use x to find the side lengths. then we add the side lengths to find the perimeter.

pythagorean theorem formula:

a^2 + b^2 = c^2

(x - 20)^2 + (x - 40)^2 = x^2

x^2 - 40x + 400 + x^2 - 80x + 1600 = x^2

x^2 -120x + 2000 = 0

(x - 100)(x - 20) = 0

x - 100 = 0 or x - 20 = 0

x = 100 or x = 20

we see that the solution x = 20 must be discarded because it will give a negative side length and a side length of 0. the only valid solution is x = 100.

perimeter = sum of the lengths of the sides

perimeter = x + x - 20 + x - 40

perimeter = 3x - 60

replace x with 100.

perimeter = 3(100) - 60

perimeter = 300 - 60

perimeter = 240