Business, 16.06.2021 20:10, bren27

JOHNSON HAS THE FOLLOWING DATA REGARDING AN EXCHANGE OF LAND: (ASSUME THE EXCHANGES LACKS COMMERCIAL SUBSTANCE) OLD LAND FMV 580,000 OLD LAND COST 430,000 NEW LAND FMV 493,000 CASH RECEIVED 87,000 REQUIRED: HOW MUCH GAIN WILL JOHNSON RECOGNIZE ON THE EXCHANGE

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JOHNSON HAS THE FOLLOWING DATA REGARDING AN EXCHANGE OF LAND: (ASSUME THE EXCHANGES LACKS COMMERCIAL...