Sam's office building with an adjusted basis of $750,000 and a fair market value of $900,000 is condemned on November 30, 2019. Sam is a calendar year taxpayer. He receives a condemnation award of $875,000 on March 1, 2020. He builds a new office building at a cost of $845,000 that is completed and paid for on December 31, 2022. 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.

Abc computer company has a $20 million factory in silicon valley in which in builds computer components. during the current year, abc's costs are labor (wages) of $1.01.0 million; interest on debt of $0.20.2 million; and taxes of $0.20.2 million. abc sells all its output to xyz supercomputer for $2.62.6 million. using abc's components, xyz builds four supercomputers at a cost of $0.8500.850 million each, which comes from $0.6500.650 million worth of components, $0.10.1 million in labor costs, and $0.10.1 million in taxes per computer. xyz has a $30 million factory. xyz sells three of the supercomputers to other businesses for $1.81.8 million each. at year's end, it had not sold the fourth. the unsold computer is carried on xyz's books as a $0.8500.850 million increase in inventory.

What preforms the best over the long term? a) bonds b) mutual funds c) stocks d) certificate of deposit

Jose recently died with a probate estate of $900,000. he was predeceased by his wife, guadalupe, and his daughter, lucy. he has two surviving children, pete and fred. jose was also survived by eight grandchildren, pete’s three children, naomi, daniel, nick; fred’s three children, heather, chris and steve; and lucy’s two children, david and rachel. jose’s will states the following “i leave everything to my three children. if any of my children shall predecease me then i leave their share to their heirs, per stirpes.” which of the following statements is correct? (a) under jose’s will rachel will receive $150,000. (b) under jose’s will chris will receive $150,000. (c) under jose’s will nick will receive $100,000. (d) under jose’s will pete will receive $200,000.