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Business, 27.05.2021 03:30 anniekwilbourne

38-41. X Corporation exchanged a warehouse located in New York for a warehouse located in New Jersey. The adjusted basis of the New York warehouse was $30,000. The fair market value of the New Jersey warehouse just prior to the exchange was $25,000. In addition to the warehouse, X Corporation also received $8,000 in cash. The amount realized by X Corporation is:

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38-41. X Corporation exchanged a warehouse located in New York for a warehouse located in New Jersey...
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