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Robert sold investment property for $43,000 cash and paid a sales commission of $3,200. In...

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Accounting

Robert sold investment property for $43,000 cash and paid a sales commission of $3,200. In addition to the cash paid, the buyer assumed Robert’s $16,000 liability that was secured by the property. Robert’s adjusted basis in the property at the time of the sale was $16,000. What is Robert’s total recognized (not just realized) gain?
a$55,800b$27,000c$39,800d$43,000

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