A piece of property bought by XYZ Corporation a few years ago was sold for $5 M. The cost basis for this property was $2.75 M. The company had a taxable income of $12.15 million in the year the property was sold. The capital gain tax on this property is $337,500.

O True

O False

True

Explanation:

Data given in the question

Sale value of the property = $5,000,000

Cost basis of property = $2,750,000

And, the taxable income is $12,150,000

So, based on the above information, the capital gain on the property is

= (Sale value of the property - Cost basis of property) × capital gain tax rate

= ($5,000,000 - $2,750,000) × 15%

= $337,500

We assume the capital gain tax rate is 15%

Hence, the given statement is true

enjoy the dunce cap fool

1   all nations face the problem of scarcity because there are limited resources and unlimited wants. nations do not have enough factors of production to produce everything that their population wants. entrepreneurial resources initiate businesses to make new goods and services; labor resources produce goods and services.

2 there are four factors of production: natural resources, labor resources, capital resources, and entrepreneurial resources. natural resources are raw materials from nature that are used to produce goods. trees, water, and grains are natural resources. some natural resources, such as wheat and cattle, are renewable

3 wants

things that you do not need to have in order to survive, but would like to have

needs

things that you must have in order to survive

goods

physical products

services

tasks that a business perform for customers

resources

items that people can use to make or obtain what they need or want

determine

to settle or decide by choice of alternatives or possiblities

4 i really dont know