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Gabe sold his business for $120,000. He transferred a building, FMV $80,000; land, FMV $10,000; and furniture and fixtures, FMV $ 30,000 and adjusted basis

Gabe sold his business for $120,000. He transferred a building, FMV $80,000; land, FMV $10,000; and furniture and fixtures, FMV $ 30,000 and adjusted basis of $22,500. What is the value of goodwill and ongoing concern?

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