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6. Evona, an equal partner, sold her partnership interest to Zach, an outsider, for $154,000 cash on January 1, Year 2, when Evona's basis in
6. Evona, an equal partner, sold her partnership interest to Zach, an outsider, for $154,000 cash on January 1, Year 2, when Evona's basis in the partnership was $34,000. In addition, Zach assumed Evona's share of the partnership's liability. What was the total amount realized by Evona on the sale of her partnership interest
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Financial Markets And Institutions
Authors: Anthony Saunders, Marcia Cornett
5th Edition
0078034663, 978-0078034664
