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Question 10 Algy Realty receives notice that its property is condemned to make room for a highway. The proceeds of the award are $2,200,000 and
Question 10
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Algy Realty receives notice that its property is condemned to make room for a highway. The proceeds of the award are $2,200,000 and the adjusted basis of the property is $950,000. The realized gain is: A. $450,000. B. $1,250,000 C. $2,000,000 D. $1,200,000
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