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You exchange parking lot B (adjusted basis $15,000) for a new parking lot C (FMV of $20,500) and pay $5,000. Your basis in the new
You exchange parking lot B (adjusted basis $15,000) for a new parking lot C (FMV of $20,500) and pay $5,000. Your basis in the new parking lot is:
A) $15,000
B) $5,000
C) $20,000
D) $20,500
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Accounting Principles A Business Perspective Financial Accounting Chapters 9 To 18
Authors: Bill Buxton, Amy Sibiga
1st Edition
1461160863, 978-1461160861
