Sam’s office building with an adjusted basis of $750,000 and a fair market value of $900,000 is condemned on November 30, 2013. Sam is a calendar year taxpayer. He receives a condemnation award of $875,000 on March 1, 2014. He builds a new office building at a cost of $845,000 which is completed and paid for on December 31, 2016.

What is Sam’s recognized gain on receipt of the condemnation award and basis for the new office building assuming his objective is to minimize gain recognition?

A. $0; $720,000.

B.$30,000; $750,000.

C. $30,000; $845,000.

D. $150,000; $750,000.

E. None of the above.

What is the purpose of taking a personality inventory assessment? a. to find out what personality traits you should acquire for a successful career b. to identify your personality traits and relate them to a suitable career c. to compare your personality traits with those of successful people in different careers d. to identify aspects of your personality that you can improve with the of a counselor

Turtle corporation produces and sells a single product. data concerning that product appear below: per unit percent of sales selling price $ 150 100 % variable expenses 75 50 % contribution margin $ 75 50 % the company is currently selling 5,600 units per month. fixed expenses are $194,000 per month. the marketing manager believes that a $5,300 increase in the monthly advertising budget would result in a 190 unit increase in monthly sales. what should be the overall effect on the company's monthly net operating income of this change?

Garrett is an executive vice president at samm hardware. he researches a proposal by a larger company, maximum hardware, to combine the two companies. by analyzing past performance, conducting focus groups, and interviewing maximum employees, garrett concludes that maximum has poor profit margins, sells shoddy merchandise, and treats customers poorly. what actions should garrett and samm hardware take? a. turn down the acquisition offer and prepare to resist a hostile takeover. b. attempt a friendly merger and use managerial hubris to improve results at maximum. c. welcome the acquisition and use knowledge transfer to impart sam hardware's management practices. d. do nothing; the two companies cannot combine without samm hardware's explicit consent.