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38. [LO 9.3] Coronado Corporation owns business realty that was insurance company pays Coronado $325,000 for the property, which has an allocated basis of $275,000.

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38. [LO 9.3] Coronado Corporation owns business realty that was insurance company pays Coronado $325,000 for the property, which has an allocated basis of $275,000. a. What are Coronado's realized and recognized gains, assuming it does not replace the property? b. What is its recognized gain, assuming it spends $300,000 on replacement property? c. What is its basis in the replacement property? d. What is its recognized gain, assuming it spends $350,000 on replacement property? e. What is its basis in the replacement property? f. If the corporation has an replacement property? destroyed by fire on March 15, year 1. Its April 30 year-end, what is the last date on which it can acquire qualifying

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