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Roland Curtis investment property was condemned. He purchased the property for 105,000. He received a net condemnation award of 170,000 and purchased replacement property for
Roland Curtis investment property was condemned. He purchased the property for 105,000. He received a net condemnation award of 170,000 and purchased replacement property for 255,000. What is the amount of gain realized on the condemnation? 0, 65,000, 85,000 or 140,000.
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