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What is the disposal price to mickey in relation to the sale

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Reference no: EM132944833

Mickey sold a shophouse in Malaysia on 3 November 2020 for RM800,000. He bought the shophouse in 2014 and has undertaken renovation which cost RM50,000. Mickey also incurred interest expense of RM30,000 in relation to a loan taken out to finance the purchase of the shophouse. He attempted to sell the shophouse in 2019 but the prospective buyer aborted the sale. He forfeited a deposit of RM10,000.

Problem 1: What is the disposal price to Mickey in relation to the sale of the shophouse on 3 November 2020?

A. RM800,000
B. RM750,000
C. RM710,000
D. RM760,000

Reference no: EM132944833

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