Last year, ricardo sold a piece of unimproved real estate to cliff for $20,000. ricardo acquired the property 15 years ago at a cost of $10,000. last year, ricardo received $4,000 cash and cliff’s note in the amount of $16,000 for the remainder of the selling price, payable in subsequent years. ricardo reported the sale using the installment method. this year, before cliff made any further payments, ricardo sold the note for $15,000 in cash. what is the amount of gain or (loss) ricardo should report on this year’s tax return?

2. the language of price controls consider the market for rental cars. suppose that, in a competitive market without government regulations, the equilibrium price of rental cars is $58 per day, and employees at car rental companies earn $19.50 per hour. complete the following table by indicating whether each of the statements is an example of a price ceiling or a price floor and whether it results in a shortage or a surplus or has no effect on the price and quantity that prevail in the market. statement price control effect there are many teenagers who would like to work at car rental companies, but the minimum-wage law sets the hourly wage at $23.00. the government has instituted a legal minimum price of $87 per day for rental cars. the government prohibits car rental companies from renting out rental cars for more than $87 per day.

Abank provides its customers mobile applications that significantly simplify traditional banking activities. for example, a customer can use a smartphone to take a picture of a check and electronically deposit into an account. this unique service demonstrates the bank’s desire to practice which one of porter’s strategies?

Brenda wants a new car that will be dependable transportation and look good. she wants to satisfy both functional and psychological needs. true or false