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Business, 21.05.2021 17:10 orlando19882000

Olivia wants to buy some vacant land for investment purposes. She cannot afford the full purchase price. Instead, Olivia pays the landowner $14,500 to obtain an option to buy the land for $290,000 anytime in the next four years. Fourteen months after purchasing the option, Olivia sells the option for $18,125. What is the amount and character of Olivia's gain or loss?

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Olivia wants to buy some vacant land for investment purposes. She cannot afford the full purchase pr...

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