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Calculate the gain or loss recognized and the character of the gain or loss. Please explain. Calculate net income if income before the transactions totaled

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Calculate the gain or loss recognized and the character of the gain or loss. Please explain. Calculate net income if income before the transactions totaled $50,000. Please explain. Selling Capital Accum Gain (Loss) Case 1 price 1245 291 1231 Gain Cost Depre Equipment 22000 13000 27000 Land 100000 87000 Building 420000 380000 54000 Stock 75000 53000

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