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Hector's adjusted basis in business-use nonresidential property was $115,000. He received a gross condemnation award of $150,000. His net condemnation award was $145,000. He purchased

Hector's adjusted basis in business-use nonresidential property was $115,000. He received a gross condemnation award of $150,000. His net condemnation award was $145,000. He purchased replacement property at a cost of $160,000. What is Hector's basis in the replacement property

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