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Business, 09.07.2020 02:01 KassandraVillegas

Repbulic LLC exchanged land used in its business for some new land to be used in the business. Republic LLC originally purchased the land it exchanged for $37,500. The new land had a fair market value of $39,750. Arlington also received $11,500 of cash in the transaction. What is Republic LLC's recognized gain or loss on the exchange

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Repbulic LLC exchanged land used in its business for some new land to be used in the business. Repub...

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