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Amna owns undeveloped land with an adjusted basis of $390,000. Amna sells the property to George for $475,000. Required: o. What is Amna's realized and

Amna owns undeveloped land with an adjusted basis of $390,000. Amna sells the property to George for $475,000. Required: o. What is Amna's realized and recognized gain? b. To what IRC section does the gain on the property apply

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