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QUESTION 26 12.5 points Save Answer Tanner exchanged a piece of land held for investment...

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QUESTION 26 12.5 points Save Answer Tanner exchanged a piece of land held for investment with a basis of $20,000 and a fair market value of $80,000 for $25,000 cash and a storage building for his equipment used in his business. The storage building has a fair market value of $60,000. Calculate the recognized gain on the exchange. For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac). Paragraph Arial 10pt TY 4 % o Q B I Us V

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