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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...
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12)

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

A)$20,000B)$0C)$48,000D)$28,000
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Subject: Accounting, Business

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