As a foreign exchange trader at Sumitomo Bank, one of your customers would like a yen quote on Australian dollars. Current market rates are: Spot 30-day ¥101.37-85/U. S.$1 15-13 A$1.2924-44/U. S.$1 20-26 What bid and ask yen cross rates would you quote on spot Australian dollars? Group of answer choices AD 0.012769/¥ -88 ¥78.31-81/A$1 AD 0.012/¥-76 ¥77.91-99/A$1

Barry owns a 50 percent interest in b& b interests, a partnership. his brother, benny, owns a 35 percent interest in that same partnership, and the remaining 15 percent is owned by an unrelated individual. during 2016, barry sells a rental property with a basis of $60,000 to b& b interests for $100,000. the partnership intends to hold the rental as inventory for resale. what is the amount and nature of barry’s gain or loss on this transaction?