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Barney exchanges an office building with an adjusted basis of $280,000 and a fair market value of $300,000 for another office building with a fair
Barney exchanges an office building with an adjusted basis of $280,000 and a fair market value of $300,000 for another office building with a fair market value of $270,000 and $30,000 cash. What is Barney's recognized gain or loss? A) $0 B) $20,000 C) $30,000 D) $270,000
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