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Terri transferred property with a basis of $80,000 and a FMV of $100,000 to Walker Corporation for all of its corporate stock with a FMV

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Terri transferred property with a basis of $80,000 and a FMV of $100,000 to Walker Corporation for all of its corporate stock with a FMV of $110,000. No boot was received. The property was encumbered with a loan of $85,000. What is Terri's recognized gain on the transfer? O $5,000 O $10,000 $0 $30,000

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