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Katrina owns undeveloped land with an adjusted basis of $320,625. She exchanges it for other undeveloped land worth $712,500. Assume that Katrina holds the land

Katrina owns undeveloped land with an adjusted basis of $320,625. She exchanges it for other undeveloped land worth $712,500. Assume that Katrina holds the land as an investment.

a. Katrina's realized gain is $_______ and her recognized gain is $______.

b. Katrina's basis in the undeveloped land she receives is $______.

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