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Discuss land for investment purposes

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Landry exchanged land with an adjusted basis of $50,000 for another parcel of land worth $35,000 plus $10,000 of cash. Landry held the original land for investment purposes and will do the same with the new parcel. Due to the exchange, Landry will recognize

A) $10,000 gain.
B) $5,000 gain.
C) $5,000 loss.
D) $0.

Reference no: EM131762261

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