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18. Eisenhower Company and Patton Company exchanged properties in a nontaxable exchange transaction. Eisenhower exchanged an asset with a $165,000 tax basis and a $200,000

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18. Eisenhower Company and Patton Company exchanged properties in a nontaxable exchange transaction. Eisenhower exchanged an asset with a $165,000 tax basis and a $200,000 FMV for an asset with a $150,000 FMV and $50,000 cash from Patton Company. Patton's basis in the asset it transferred to Eisenhower was $170,500. a. Compute Eisenhower's realized and recognized gain (loss) and Eisenhower's tax basis in the asset received. b. Compute Patton's realized and recognized gain (loss) and Patton's tax basis in the asset received

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