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F sold a parcel of land to the city to be used as a location for a new art museum. the land had a market
F sold a parcel of land to the city to be used as a location for a new art museum. the land had a market value of $70000 and was sold for $40000. F's adjusted basis in the property was $35000. How much is F's charitable contribution deduction on this transfer? How much gain does F recognize on this sale?
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