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Elena's basis in investment-use land was $25,000. She received a gross condemnation award of $31,000. Her net condemnation award was $30,000. She purchased replacement property

Elena's basis in investment-use land was $25,000. She received a gross condemnation award of $31,000. Her net condemnation award was $30,000. She purchased replacement property at a cost of $32,000. What is Elena's basis in the replacement property?

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