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Lily exchanges an apartment building with a basis of $80,000 and a FMV of $125,000, for an office building with a FMV of $115,000 and
Lily exchanges an apartment building with a basis of $80,000 and a FMV of $125,000, for an office building with a FMV of $115,000 and cash of $10,000. What is Lily's recognized gain and basis in the...
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Survey of Accounting
Authors: Edmonds, old, Mcnair, Tsay
2nd edition
9780077392659, 978-0-07-73417, 77392655, 0-07-734177-5, 73379557, 978-0073379555
