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15 31. Jeff sold his cabin for $75,000 in cash, plus artwork with a FMV of $27.000. In addition, the purchaser assumed the cabin's remaining

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15 31. Jeff sold his cabin for $75,000 in cash, plus artwork with a FMV of $27.000. In addition, the purchaser assumed the cabin's remaining mortgage loan balance. Jeff's basis in the cabin was $30,000, and he owed $7,000 to the bank on the mortgage. What is Jeff's realized gain on the sale? A. $45,000 B. $65,000 C. $72,000 D. $79,000

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