Miguel and Ann formed a partnership. Miguel received a 40% interest in partnership capital and profits in exchange for land with a basis of $100,000 and a fair market value of $140,000. Ann received a 60% interest in partnership capital and profits in exchange for $210,000 of cash. Three years after the contribution date, the land contributed by Miguel is sold by the partnership to a third party for $160,000. How much taxable gain will Miguel recognize from the sale?

Which term refers to the cost that motivates an economic decision

Jamie is saving for a trip to europe. she has an existing savings account that earns 3 percent annual interest and has a current balance of $4,200. jamie doesn’t want to use her current savings for vacation, so she decides to borrow the $1,600 she needs for travel expenses. she will repay the loan in exactly one year. the annual interest rate is 6 percent. a. if jamie were to withdraw the $1,600 from her savings account to finance the trip, how much interest would she forgo? .b. if jamie borrows the $1,600 how much will she pay in interest? c. how much does the trip cost her if she borrows rather than dip into her savings?

Fabian got into an accident on his way to work. he had multiple fractures in his leg. his doctor advised strict bed rest for at least three months.fabian is a freelance wildlife photographer who usually works on a contract basis, and this is his primary source of income. before the accident, fabian was planning his finances. which goal of his financial plan would fabian in getting through without pay for the next three months? the goal that requires the creation of a/an would fabian get through the next three months without pay.