If the capital gain was $479,000, the capital expenditure was $227,000 and the adjusted basis price of the property was $976,000.
The Sales Price was $ 1,682,000.
Sale is the act of selling a product, in most of the manufacturing companies sell their inventory to earn profits and this is how they generate revenue.
There are cases where company sell their assets that they use or are alternatively as capital investments, the case in the scenario is of a sale of a property, the property is sold at a price, the price is unknown but the amount of gain/ profit made at the sale is known and provided.
The amount of profit, capital expenditure and the adjusted basis price of the property is added to formulate the sales price for the property.
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