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$ 8 , 0 0 0 F M V . Requirements a . What are the amount and character of Nicole's recognized gain or loss?

$8,000FMV. Requirements
a. What are the amount and character of Nicole's recognized gain or loss?
b. What are Nicole's bases in the Parker stock and note?
c. What is Parker's basis in the machinery?
Read the requirements.
Requirement a . What are the amount and character of Nicole's recognized gain or loss?
Begin by identifying Nicole's realized gain or loss and recognized gain or loss. (Enter a loss with a minus sign or parentheses.)
Nicole's realized gain (loss)=
Nicole's recognized gain (loss)=
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