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Firm J sold marketable securities to Company B. Firm J's tax basis in the securities was $51,750. Compute Firm J's recognized gain or loss if:

image text in transcribed Firm J sold marketable securities to Company B. Firm J's tax basis in the securities was $51,750. Compute Firm J's recognized gain or loss if: Required: a. The selling price was $70,250, and Firm J and Company B are unrelated parties. b. The selling price was $70,250, and Firm J and Company B are related parties. c. The selling price was $48,600, and Firm J and Company B are unrelated parties. d. The selling price was $48,600, and Firm J and Company B are related parties. Note: For all requirements, if the results of a transaction do not result in a gain or loss, select 'No gain/loss

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