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Mark receives a liquidating distribution from Arosa Corporation as part of a redemption of all...

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Accounting

Mark receives a liquidating distribution from Arosa Corporation
as part of a redemption of all of its stock. Mark's basis for his
Arosa stock is $10,000. In exchange for his stock, Mark receives
property with a $14,000 basis and a $25,000 fair market value that
is subject to a $12,000 mortgage.What is Mark's
recognized gain?Using the above information,
Arosa Corporations recognized gain or loss would be

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