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MMLU-Pro / 5784 / In the current year Vinton exchanged unimproved land for an apartment building.…

Problem

Answer published by the source. Consult the official source to check your work against its answer.

question

In the current year Vinton exchanged unimproved land for an apartment building. The land had a basis of 300000andafairmarketvalue(FMV)of300000 and a fair market value (FMV) of 420000 and was encumbered by a 100000mortgage.TheapartmentbuildinghadanFMVof100000 mortgage. The apartment building had an FMV of 550000 and was encumbered by a $230000 mortgage. Each party assumed the other's mortgage. What is Vinton's basis in the office building?
Plain-text mathematical notation (without MathML)
In the current year Vinton exchanged unimproved land for an apartment building. The land had a basis of 300000andafairmarketvalue(FMV)of420000 and was encumbered by a 100000mortgage.TheapartmentbuildinghadanFMVof550000 and was encumbered by a $230000 mortgage. Each party assumed the other's mortgage. What is Vinton's basis in the office building?
Original LaTeX notation
In the current year Vinton exchanged unimproved land for an apartment building. The land had a basis of $300000 and a fair market value (FMV) of $420000 and was encumbered by a $100000 mortgage. The apartment building had an FMV of $550000 and was encumbered by a $230000 mortgage. Each party assumed the other's mortgage. What is Vinton's basis in the office building?

category

other

options

  1. $320,000
  2. $420,000
  3. $300,000
  4. $250,000
  5. $200,000
  6. $350,000
  7. $500,000
  8. $430,000
  9. $600,000
  10. 550000

src

ori_mmlu-professional_accounting

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Source and history

upstream_id / Original problem ID
5784
task_id
5b3c5d9a-099d-5667-98b8-d0a788363984
task_key
default--test--5784
task_revision_id
1
config / split
default / test

Official source

initial import