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Mandy and Timothy exchange equipment in a like-kind exchange. Mandy receives equipment with a fair market value of $168,000 and transfers equipment worth $117,600 (adjusted
Mandy and Timothy exchange equipment in a like-kind exchange. Mandy receives equipment with a fair market value of $168,000 and transfers equipment worth $117,600 (adjusted basis of $82,320) and cash of $50, 400. If an amount is zero, enter 0.
Mandy's realized gain is ____ and her recognized gain is _______.
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