Lee bought a hot-air balloon 3 years ago for $6,000 cash, $34,000 loan, $1,000 legal fees, and $500 commissions. During the past 3 years, Lee depreciated the balloon $17,500. Iorek purchases the hot-air balloon from Lee by giving him armor worth $15,000 and assuming Lee’s remaining debt worth $15,000. Lee pays $2,500 towards legal fees and commissions to complete the sale. What is Lee’s recognized gain or loss on the sale?

Which of the following is true regarding the sale or exchange of an option?

Taxy O’Payer, age 56, receives an annuity distribution of $1000 per month for life from their qualified retirement plan beginning in January. Taxy’s investment in the contract is $169,260. Based upon the number of anticipated monthly annuity payments under the simplified method, how much of each annuity payment is included in Taxy’s gross income.

Which of the following processes corresponds to the electron affinity of iodine?

Which of the following electron configurations represents an excited state of the indicated atom?

6 points:  Which gland produces cortisol?  Identify 2 of its 3 effects.

8 points:  Identify the sex hormone for each sex (male and female) and the organ that produces each.

The family room has ____________.

The roof for the Brick-Veneer Residence is a ___________ roof.

Regarding windows, __________.