When Da Vinci's first airplane model was sold at auction in 1895, it went for $210. In 2016, the original owner sold the paininting again and this time Sotheby's auctioneers were able to sell it for the staggering sum of $1,410,000. What was the annual percentage increase in price of the painting over this period? YDo not round intermediate calculations and enter your answer as a percent, rounded to 2 decimal places, e.g., 32.16.) b. How much money should the painting be worth in 2034 if the price of the painting increases at the same rate as (a)? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) a.

When Da Vinci's first airplane model was sold at auction in 1895, it went for $210. In 2016, the original owner sold the paininting again and this time Sotheby's auctioneers were able to sell it for the staggering sum of $1,410,000. What was the annual percentage increase in price of the painting over this period? YDo not round intermediate calculations and enter your answer as a percent, rounded to 2 decimal places, e.g., 32.16.) b. How much money should the painting be worth in 2034 if the price of the painting increases at the same rate as (a)? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) a.

Individual Income Taxes

43rd Edition

ISBN:9780357109731

Author:Hoffman

Publisher:Hoffman

Chapter17: Property Transactions: §1231 And Recapture Provisions

Section: Chapter Questions

Problem 11DQ

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