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Susan Kim contributed a piece of land to Sycamore Company for a 15 percent stake in the firm 10 years ago. Her tax basis in

Susan Kim contributed a piece of land to Sycamore Company for a 15 percent stake in the firm 10 years ago. Her tax basis in the land was $200,000. When the land was transferred to Sycamore, its fair market value was $350,000. How much gain do Susan and Sycamore Company recognize from this transaction?

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