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At the formation of Berry Partnership, Straw contributes land with a basis of $190,000 and...

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At the formation of Berry Partnership, Straw contributes land with a basis of $190,000 and a fair market value of $570,000, and Rasp contributes cash of $570,000. Straw and Rasp share profits and losses equally. When the land is sold two years later for $950,000, Straw must recognize a gain of how much? $760,000 $380,000 $190,000 O $570,000

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