Homework Answers
Purchase price = $100,000* 93/100 = $93,000
Sale value = 94-12 which means = 94 + (12/32) = 94.375
= $100,000* 94.375 /100
= $94,375
Gain = $94,375 - $93,000
Gain = $1,375
Option '5' is correct
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