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Exercise 21-18 (Algorithmic) (LO. 3) Henrietta transfers cash of $295,600 and equipment with a fair market value of $88,680 (basis to her as a sole
Exercise 21-18 (Algorithmic) (LO. 3) Henrietta transfers cash of $295,600 and equipment with a fair market value of $88,680 (basis to her as a sole proprietor, $35,472) in exchange for a 40% profit and loss interest worth $384,280 in a partnership. If an amount is zero, enter "o" a. Henrietta has a realized gain of b. Henrietta's basis in the partnership interest is c. The partnership's basis in the equipment is $ and recognizes a gain of
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