Morgandy originally sold her home for $125,750 when her adjusted basis in the home was...
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Morgandy originally sold her home for $125,750 when her adjusted basis in the home was $97,500. Two years later, she repossessed the home when the balance of the note was $100,000. She resold it within one year for $130,000. Original sale expenses were $2,750, and resale expenses were $3,000. Repossession costs were $2,175. She incurred $3,200 for improvements prior to the resale. What is Morgandy's recomputed adjusted basis? $108,625 O $103,000 O$102,750 O $100,700
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