KC owns an apartment building held for investment purposes. The apartment building is worth $450,000, although it is subject to a mortgage of $75,000. KC's basis in the apartment building is $300,000. KC exchanges the apartment building for an office building. The office building has a FMV of $325,000. KC receives $50,000 cash in addition to receiving the office building, and the other party assumes the apartment building mortgage. What is KC's recognized gain on this exchange?

Grace period is a period of time before the credit card company starts charging late fees. truefalse

Cynthia is a hospitality worker in the lodging industry who prefers to cater to small groups of people. she might want to open a

Select the correct answer. ramon applied to the state university in the city where he lives, but he was denied admission. what should he do now? a. change his mind about graduating and drop out of high school so he can start working right away. b. decide not to go to college, because he didn’t have a backup plan. c. stay positive and write a mean letter to let the college know that they made a bad decision. d. learn from this opportunity, reevaluate his options, and apply to his second and third choices.