What is the after cash flow from the sale of the property

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Reference no: EM13836196

A property is sold for $530,000 with selling costs of 7% of the sales price. The mortgage balance at the time of sale is $150,000. The property was purchased 5 years ago for $385,000. Depreciation of $12,000 per year was allowed. The capital gains tax rate is 15%. Improvements costing $5,000 were made. A) What is the adjusted basis for this property? B) What is the taxable gain from the sale of this property? C) What is the tax on the sale? D) What is the after cash flow from the sale of the property?

Reference no: EM13836196

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