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Marcie owns a 10 percent interest in a shopping mall located in Portland, Maine. Her...

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Accounting

Marcie owns a 10 percent interest in a shopping mall located in Portland, Maine. Her adjusted basis for her interest is $250,000, and its fair market value is $900,000. She exchanges it for undeveloped land in York, Pennsylvania, that is held by her sister, Sandra. Marcie is aware of the

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