Determine maple basis in the new machine

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Reference no: EM131517490

Question: Maple Company owns a machine (adjusted basis of $90,000; fair market value of $125,000) that it uses in its business. Maple exchanges it for another machine (worth $100,000) and stock (worth $25,000). Determine Maple's:

a. Realized and recognized gain or loss on the exchange.

b. Basis in the new machine.

c. Basis in the stock Maple received.

Reference no: EM131517490

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