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Antonio Owns Land Held for Investment with a Basis of $28,000.The

Question 120

Multiple Choice

Antonio owns land held for investment with a basis of $28,000.The city of Lafayette exercises the right of eminent domain and Antonio receives a payment of $48,000.What is Antonio's realized gain?


A) $0
B) $20,000
C) $28,000
D) $48,000

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