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In 2021 Devon exchanged a large rental unit in an apartment building having a fair market value of $350,000 for cash of $30,000 and a

In 2021 Devon exchanged a large rental unit in an apartment building having a fair market value of $350,000 for cash of $30,000 and a smaller rental unit with a fair market value of $320,000. Her adjusted basis in the large unit is $280,000.

How much gain should she recognize for this exchange and what is her basis in the smaller unit?

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