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Alberto bought commercial property in 1980 for $50,000. In 2011, he traded it for similar property valued at $150,000 and received $10,000 in cash. His

Alberto bought commercial property in 1980 for $50,000. In 2011, he traded it for similar property valued at $150,000 and received $10,000 in cash. His taxable income from this transaction in 2014 would be

a. $10,000. b. $50,000. c. $100,000. d. $150,000.

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