Assume you purchased a rental property for $100,000 and sold it 1 year later for $115,000 (there was no mortgage on the property). At the time of the sale, you paid $3,000 in commissions and $1,000 in taxes. If you received $10,000 in rental income (all received at the end of the year), what annual rate of return did you earn?
A. 6%
B. 11%
C. 21%
D. 25%
C. 21%
Business
You might also like to view...
Low-context communication is generally seen in ______ cultures.
a. individualistic b. collectivistic c. dominant d. sub-cultures
Business
To recognize the use of and benefit received from long-lived assets, such as equipment, during the accounting period, ________ Expense should be recorded.
A. Accumulated Depreciation B. Depreciation C. Interest D. Supplies
Business
Matt has been helping me overcome some difficulties
A) linking verb B) action verb C) helping verb D) gerund
Business
Margot always takes her time, considering all available information before making a decision. Margot is an intuitive decision maker.
Answer the following statement true (T) or false (F)
Business