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Barbara sells an asset to her wholly-owned corporation. The asset has a tax basis of $32,000 and a fair market value at the time of

image text in transcribed Barbara sells an asset to her wholly-owned corporation. The asset has a tax basis of $32,000 and a fair market value at the time of the sale of $27,000. What is the corporation's recognized gain or loss if it, several years later, sells the asset for $30,000

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