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Joshua contributes two parcels of property to the lowell Partnership in exchange for a 40% interest in the partnership. The properties were as follows: FMV

Joshua contributes two parcels of property to the lowell Partnership in exchange for a 40% interest in the partnership. The properties were as follows:

FMV

Property A $330,000 ,

Property B $152,000

Basis

Property A $175,000

Property B $130,000

If Property A is later sold for $425,000, how much gain will Joshua recognize?

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