sold warehouse to a public utility for $24,000 under a threat of condemnation. originally paid...
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sold warehouse to a public utility for $24,000 under a threat of condemnation. originally paid $25,000 for the property & spent additional $1,000 for a new roof. Claimed $3,600 depreciation & in conjunction with the condemnation award paid $200 legal fees. A) recognizes no gain on the property if, within the replacement period, he pays $30,000 for a different warehouse. B) recognizes no gain on the property if, within the period, he pays $20,000 for a different warehouse. C) realizes no gain on the property if, within the replacement period, he pays $30,000 for a different warehouse.
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