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Compute the amount of john recognized gain

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Question - John exchanged an old asset with an $18,000 adjusted basis plus $2,000 for a new asset with a $32,000 fair market value. Compute the amount of John's recognized gain if the new and old assets are like-kind properties.

$0

$2,000

$14,000

$12,000

Reference no: EM131690874

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