A parcel of land, described as the "NW-1/4 and the SW-1/4 of Section 6, Township 3N, Range 3E, of the 3rd Principal Meridian," sold for $875 an acre. The listing broker will receive a 5% commission on the total sales price. How much will the broker receive?

Westland, Inc. owns a delivery truck. Which of the following costs, associated with the truck, will be treated as a revenue expenditure?

A) oil change and lubrication B) major engine overhaul C) modification for new use D) addition to storage capacity

A carpenter installs a new wood floor in a home. The owners refuse to pay for the floor and the carpenter files a mechanics lien. The mechanics lien:

a. takes effect when recorded. b. is derived from federal statute. c. reverts back to the date work commenced on the home. d. none of the above.