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7. Jimmy exchanges a commercial building with a $250,000 adjusted basis for $25,000 cash and business land with a $240,000 FMV. What is the amount

7. Jimmy exchanges a commercial building with a $250,000 adjusted basis for $25,000 cash and business land with a $240,000 FMV. What is the amount of gain recognized on the exchange?

A) $0

B) $6,000

C) $15,000

D) $25,000

please show work

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