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James Smith exchanged an office building used in business with an adjusted basis of $380100...

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Accounting

James Smith exchanged an office building used in business with an adjusted basis of $380100 and land held for investment with an adjusted basis of $30100 for another office building with a fair market value of $420100. What is the basis of the new office building?

$380100 $430000 $410200 $420100

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