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AOrange Corporation Exchanges a Warehouse Located in New York (Adjusted

Question 17

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a.Orange Corporation exchanges a warehouse located in New York (adjusted basis of $300,000)for a warehouse located in New Jersey (adjusted basis of $350,000;fair market value of $250,000).Indicate the amount of gain or loss that is recognized by Orange Corporation on the exchange,and the basis of the warehouse acquired.
a.Orange Corporation exchanges a warehouse located in New York (adjusted basis of $300,000)for a warehouse located in New Jersey (adjusted basis of $350,000;fair market value of $250,000).Indicate the amount of gain or loss that is recognized by Orange Corporation on the exchange,and the basis of the warehouse acquired. a.Orange Corporation exchanges a warehouse located in New York (adjusted basis of $300,000)for a warehouse located in New Jersey (adjusted basis of $350,000;fair market value of $250,000).Indicate the amount of gain or loss that is recognized by Orange Corporation on the exchange,and the basis of the warehouse acquired.

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