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Alex exchanges real property with an adjusted basis of $42,000 and a fair market value of $55,000 for real proper with a fair market value

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Alex exchanges real property with an adjusted basis of $42,000 and a fair market value of $55,000 for real proper with a fair market value of $50,000 and $5,000 cash. What is his recognized gain? O NONE of the choices are correct $13,000 O $8,000 O $0 O $5,000

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