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6. 6 Points: A fire destroyed Carl Cramer's warehouse. Carl originally paid $144,000 for it and up to the time of the fire had been
6. 6 Points: A fire destroyed Carl Cramer's warehouse. Carl originally paid $144,000 for it and up to the time of the fire had been allowed $90,000 of depreciation. Three months later, the insurance company replaced the warehouse with investment land outside of town with a fmv of $135,000. What is Carl's basis in the land and his realized and recognized gains, if any
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