Sam's office building with an adjusted basis of $750,000 and a fair market value of $900,000 is condemned on november 30, 2019. sam is a calendar year taxpayer. he receives a condemnation award of $875,000 on march 1, 2020. he builds a new office building at a cost of $845,000 that is completed and paid for on december 31, 2022. what is sam's recognized gain on receipt of the condemnation award and basis for the new office building assuming his objective is to minimize gain recognition?

Jason is looking for an engagement ring to offer his girlfriend. he has found a similar ring at each of four different jewelry stores. he doesn't have enough money to pay for the ring in cash, so he is planning on opening a line of credit (credit card) at the store he ends up buying the ring from. the chart below outlines the difference in the price of the rings the different stores offer as well as the difference in credit options. jason plans to pay off the ring purchase in 36 months. according to the information in the table, which of the jewelry stores will have the cheapest ring in the end?