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Roberta transfers property with a tax basis of $474 and a fair market value of $549 to a corporation in exchange for stock with a
Roberta transfers property with a tax basis of $474 and a fair market value of $549 to a corporation in exchange for stock with a fair market value of $364 in a transaction that qualifies for deferral under section 351. The corporation assumed a liability of $185 on the property transferred. What is the amount realized by Roberta in the exchange?
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