Sol purchased land as an investment on January 12, 2004, for $85,000. On January 31, 2011, Sol
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Sol purchased land as an investment on January 12, 2004, for $85,000. On January 31, 2011, Sol sold the land for $20,000 cash. In addition, the purchaser assumed the mortgage of $70,000 on the land. Compute the amount realized (not gain realized) on the sale of the land?
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