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Alex exchanges real property with an adjusted basis of 47000 and a fair market value of 55000 for real property with a fair market value

Alex exchanges real property with an adjusted basis of 47000 and a fair market value of 55000 for real property with a fair market value of 51000 and 4000 cash. What is his recognized gain?

A. 0

B. 8000

C. 4000

D. 12000

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