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Curtis Roland's investment property was condemned. He purchased the property for $145,000. He received a net condemnation award of $190,000 and purchased replacement property for
Curtis Roland's investment property was condemned. He purchased the property for $145,000. He received a net condemnation award of $190,000 and purchased replacement property for $275,000. What is the amount of gain realized on the condemnation? $0$45,000$85,000$130,000 Mark for follow up
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Accounting Principles
Authors: Jerry Weygandt, Paul Kimmel, Donald Kieso
12th edition
1119132223, 978-1-119-0944, 1118875052, 978-1119132226, 978-1118875056
