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Fred owns Rental House #1 (FMV = $1126525, AB before exchange = $606343). Fred exchanges Rental House #1 with WIlma for Rental House #2 (FMV

Fred owns Rental House #1 (FMV = $1126525, AB before exchange = $606343). Fred exchanges Rental House #1 with WIlma for Rental House #2 (FMV = $1126525, Wilma's AB before exchange = $123,971). What is Fred's basis in Rental House #2 after the exchange

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