What is the amount of recognized gain

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Gena exchanges land held as an investment with a $60,000 basis for other land with a $80,000 FMV and a motorcycle with a $10,000 FMV. The acquired land is to be held for investment and the motorcycle is for personal use. What is the amount of recognized gain? Please show calculations so I can better check my work.

Reference no: EM131486650

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