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Bramble inc. and Blossom Co. have an exchange with no commercial substance. The asset given up by Bramble Inc. has a book value of $60500

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Bramble inc. and Blossom Co. have an exchange with no commercial substance. The asset given up by Bramble Inc. has a book value of $60500 and a fair value of $95500. The asset given up by Blossom Co. has a book value of $125500 and a fair value of $120000. Boot of $24500 is received by Blossom Co. What amount should Bramble lnc, record for the asset received? $120000 $85000 $125500 $95500

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