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Yong contributes a machine having an adjusted basis of $ 2 0 , 0 0 0 and an FMV of $ 2 5 , 0

Yong contributes a machine having an adjusted basis of $20,000 and an FMV of $25,000 for a 10% partnership interest. Yong had taken $10,000 of depreciation prior to the contribution. The partnership has no liabilities. As a result of the contribution, Yong must recognize

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