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Sariya exchanges a vacant lot used for investment purposes for another parcel of land which is more suitable for parking for her customers in her
Sariya exchanges a vacant lot used for investment purposes for another parcel of land which is more suitable for parking for her customers in her business. The land she receives has a fair market value of $150000 so she also receives cash of $50000. Assume that Sariya's recognized gain from this transaction is $50000. What is Sariya's basis in the new parcel of land? O $150000 $130000 O $80000 O $200000
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Interpreting And Analyzing Financial Statements
Authors: Karen P. Schoenebeck
3rd Edition
0130082163, 9780130082169
