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Question 8 1 pts X. Benedict exchanges his current farm, which has an adjusted basis of $605,000, for forest land which has a fair market

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Question 8 1 pts X. Benedict exchanges his current farm, which has an adjusted basis of $605,000, for forest land which has a fair market value of $608,000. In addition, X. Benedict receives $15,000 in cash, and his mortgage of $81,000 is assumed. In this transaction, X. Benedict's realized gain is but his recognized gain would be (Do not use dollar signs, commas or decimals. Numbers only.)

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