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What is the character of foreaker gain

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Reference no: EM131802516

Question - Foreaker LLC sold a piece of land that it uses in its business for $52,000. Foreaker bought the land two years ago for $42,500. What is the character of Foreaker's gain?

A. $9,500 Section 1221

B. $9,500 Section 1231

C. $9,500 Section 1245

D. $9,500 Section 1250

Reference no: EM131802516

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