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What is arlington gain or loss recognized on the exchange

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Reference no: EM132877268

Problem 1: Arlington LLC exchanged land used in its business for some new land. Arlington originally purchased the land for $37,000. The new land had a fair market value of $39,500. Arlington also received $11,000 of office equipment in the transaction. What is Arlington's gain or loss recognized on the exchange?

Multiple Choice

A- $0.
B- $11,000.
C- $2,500.
D- $13,500.
E- None of the choices are correct.

Reference no: EM132877268

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