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How much if any gain does que realize on the swap

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Problem 1: Que purchased land for $21,000 by paying $16,000 and signing a mortgage for $5000. Over a year later Que trades that land for a new piece of land worth $26,000 . The other party buyer assumes Que's mortgage. How much if any gain does Que realize on the swap?

Reference no: EM132648469

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