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On Robin s birthday, his grandmother gave him a ring that was worth $ 6 , 0 0 0 at the time of the gift.

On Robins birthday, his grandmother gave him a ring that was worth $6,000 at the time of the gift. Robins grandmother had purchased the ring for $5,400. What is Robins basis in the ring if he sells it for $7,000? What if he sells it for $5,000? What if he sells it for $5,800?

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