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What is the gain or loss realized on the sale

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Reference no: EM132674640

Problem - Bob sells a stock investment for $35,000 cash, and the purchaser assumes Bob's $32,500 debt on the investment. The basis of Bob's stock investment is $55,000. What is the gain or loss realized on the sale?

a. $10,000 loss

b. $10,000 gain

c. $12,500 gain

d. $22,500 loss

e. $22,500 gain

Reference no: EM132674640

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