Calvin purchased a 30% partnership interest for $53,000 in March 2014.Calvin's share of partnership income was $5,000 in 2014,$25,000 in 2015,and $9,000) in 2016.Calvin made no additional contributions to,or withdrawals from,the partnership.On December 1,2016,Calvin sold his partnership interest for $83,000.What is Calvin's gain or loss on the disposal?
A) $30,000.
B) $83,000.
C) $0.
D) $9,000.
Correct Answer:
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