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2. Lisa exchanges machinery (adjusted basis $44,000) for an office building with a FMV of $98,000. The office building is subject to a $45,000 mortgage

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2. Lisa exchanges machinery (adjusted basis $44,000) for an office building with a FMV of $98,000. The office building is subject to a $45,000 mortgage which Lisa assumes. Lisa must recognize a gain of a. $0. b. $1,000 C. $9,000 d. $54,000. e. None of the above

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