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Patricia sold land that she used in her business for $127,000 in the current year. Patricia had purchased the land several years ago for $138,000.

image text in transcribed Patricia sold land that she used in her business for $127,000 in the current year. Patricia had purchased the land several years ago for $138,000. (a) What is the amount and character of Patricia's recognized gain/loss? (Enter loss with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000)

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