<p>First run in 1867 and still taking place every summer, the Belmont Stakes, a horse race for thoroughbred three-year-olds, is one of the oldest races in the United States.</p>
<p>(E) has been </p>
<p>Answer: A - correct as written Explanation for Incorrect Answer E :
Choice (E) creates an error in verb tense. The verb of the main clause should be in the present tense (is), not the present perfect (has been), because the present tense is used to express an action that occurs regularly, and the race regularly takes place every summer.</p>
<p>My Question: Why is "has been" incorrect? Present tense occurs when something happened in the past and continues to this day. Even college board admits that "the race regularly takes place every summer." So, why is the present tense "is" only used?</p>
<p>Because the race still is one of the oldest races in the US. You use has been for something that’s over now, but that was continuing in the past.</p>
<p>It has been a good year. - You say that when you think about everything that happened in the year as a continuous part of the year.
It was a good year. - You say that when you sum up the year into a single value. </p>
<p>It was good, all in all. It has been good, considering A and B and then C.</p>
<p>The explanation sucks. No matter what, unless you change history, the race is gonna remain one of the oldest. But it has been good talking to you.</p>