Stanley and Mar are a married couple who bought their primary residence four years ago for $250,000. Their closing costs when they bought the house were $3,000, and they spent $10,000 on capital improvements. They now sell the house for $450,000. The cost of the sale was $12,000. What is their capital gain? $263,000 $438,000 $175.000 $89.000

Stanley and Mar are a married couple who bought their primary residence four years ago for $250,000. Their closing costs when they bought the house were $3,000, and they spent $10,000 on capital improvements. They now sell the house for $450,000. The cost of the sale was $12,000. What is their capital gain? $263,000 $438,000 $175.000 $89.000

Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

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