Business, 25.03.2021 17:00, emilysawyer4363

Olivia wants to buy some vacant land for investment purposes. She currently cannot afford the full purchase price. Instead, Olivia pays the landowner $8,000 to obtain an option to buy the land for $175,000 anytime in the next four years. Fourteen months after purchasing the option, Olivia sells the option for $10,000. What is the amount and character of Olivia's gain or loss

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Olivia wants to buy some vacant land for investment purposes. She currently cannot afford the full p...