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What is gary gain realized

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Upon obtaining a job in New City, Gary sells his old house for $130,000. He pays selling expenses of $12,000. Gary had paid $60,000 for his old house and had added a den at a cost of $20,000 and a swimming pool costing $16,000.

Problem 1: What is Gary's gain realized?

Group of answer choices

Option 1: $118,000

Option 2: $22,000

Option 3: $20,000

Option 4: $98,000

Reference no: EM132966044

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