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in a 1031 exchange christ exchanged land used in his business for another land with a fmv of 160000. chris received 40000 in cash. the

in a 1031 exchange christ exchanged land used in his business for another land with a fmv of 160000. chris received 40000 in cash. the land that chris gave in exchange had and adjusted basis of 90,0000. what is chris adjusted basis in the new land received in the exchange

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