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Please Help!!! Garrett purchased land for investment for $16,000 in 2018 . In 2020 , he sold it to his sister, Lexie, for $14,000. She
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Garrett purchased land for investment for $16,000 in 2018 . In 2020 , he sold it to his sister, Lexie, for $14,000. She subsequently sold it at auction for $17,000 in 2022. How much gain / loss must Lexie recognize upon the sale of the land at auction? (Use a "-" for a loss). A Step by Step Solution
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