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Tom Tanner Traded in a printing Press with an adjusted basis of $13,000 and a...

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Accounting

Tom Tanner Traded in a printing Press with an adjusted basis of $13,000 and a FMV of $25,000 for a smaller press valued at $12,000. In addition to the smaller press, Tom received $13,000 in Cash. What is Tom's Recognized Gain?

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