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Help Save & Exi Jim sells a parcel of land for $80,000 cash, and the buyer assumes Jim's liability of $11,700 on the land. Jim's

Help Save & Exi Jim sells a parcel of land for $80,000 cash, and the buyer assumes Jim's liability of $11,700 on the land. Jim's basis is $67,500. What is the gain or loss on the sale? Multiple Ch...

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