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Question 11 20 pts Gloria exchanged land held for investment worth $294.000 with an adjusted basis of $211,200 and no liabilities for Gary's office building used in his business worth $270,000 with an adjusted basis to Gary of $291,600. Gary also transferred to Gloria $24.000 worth of stock in which Gary had an adjusted basis of $21,000. Compute for Gloria and Gary their respective realized gain or loss, recognized gain or loss, and adjusted basis in the properties received as a result of this transaction. Upload Choose a File