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Sasha's office building with a basis of $380,000 is condemned by the state. The state...

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Accounting

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Sasha's office building with a basis of $380,000 is condemned by the state. The state awards him $600,000 and Sasha immediately purchases a replacement office building for $520,000. What is Sasha's recognized gain? $40,000 $120,000 $80,000 $0

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