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Mose contributes land with a basis of $100,000 and a fair market value of $225,000...

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Accounting

Mose contributes land with a basis of $100,000 and a fair market value of $225,000 to Beet Farming Corp in exchange for 100% of the corporations common stock. The land is subject to a $20,000 mortgage, which the corporation assumes. What is Moses recognized gain or loss on this transaction?

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