Tina purchases a personal residence for $278,000, but subsequently converts the property to rental property when its FMV is $275,000. Assume depreciation of $65,000 has been deducted after conversion to rental use. If Tina sells the property for $200,000, her realized gain or loss will be
A. ($78,000) loss.
B. ($13,000) loss.
C. ($10,000) loss.
D. ($75,000) loss.
Answer: C
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