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Rafael sold an asset to Jamal. What is Rafael's amount realized on the sale in each of the following alternative scenarios? b. Rafael received $91,000

Rafael sold an asset to Jamal. What is Rafael's amount realized on the sale in each of the following alternative scenarios?

b. Rafael received $91,000 cash and was relieved of a $35,750 mortgage on the asset he sold to Jamal. Rafael also paid a commission of $9,400 on the transaction.

Amount realized

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