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Prater Incorporated enters into an exchange in which it gives up its warehouse on 1 0 acres of land and receives a tract of land.
Prater Incorporated enters into an exchange in which it gives up its warehouse on acres of land and
receives a tract of land. A summary of the exchange is as follows:
What are Prater's realized and recognized gain on the exchange and its basis in the assets it received in the
exchange?
thank you
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