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Firm J sold marketable securities to Company B. Firm J's tax basis in the securities was $62,250. Compute Firm J's recognized gain or loss if.

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Firm J sold marketable securities to Company B. Firm J's tax basis in the securities was $62,250. Compute Firm J's recognized gain or loss if. (If the results of a transaction do not result in a gain or loss, select 'No gain/loss') a. The selling price was $73,750, and Firm J and Company B are unrelated parties. b. The selling price was $73,750, and Firm J and Company B are related parties. c. The selling price was $54,50O, and Firm J and Company B are unrelated parties. d. The selling price was $54,500, and Firm J and Company B are related parties a C. Recognized gain Recognized loss No gain/loss

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