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How much gain does kal recognize

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Question - Kal Fein owns investment land that he bought for $100,000. He trades it for another parcel of land worth $100,000 plus a painting worth $100,000. How much gain does Kal recognize as a result of this transaction?

A. $0

B. $28,000

C. $100,000

D. $200,000

Reference no: EM131738590

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