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Denali, Inc. purchased a parcel of land held for investment two years ago for $230,000. He exchanges the land for like-kind realty with a $200,000
Denali, Inc. purchased a parcel of land held for investment two years ago for $230,000. He exchanges the land for like-kind realty with a $200,000 FMV and $5,000 cash. Assuming the transaction qualifies as a like-kind exchange, how much loss may Denali recognize? (Please enter a loss as a negative number).
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