Ko exchanges computer equipment (five-year property) with an adjusted basis of $9,000 for a business...
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Accounting
Ko exchanges computer equipment (five-year property) with an adjusted basis of $9,000 for a business auto (five-year property) worth $6,000. Ko also receives cash of $5,000. What are the recognized gain or loss and the basis of the new auto?
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You can see the logs in the Dashboard.