Question: Ben bought a copy machine in March 2017 for $3,000. In May 2019 he exchanged the copy machine in a like-kind exchange for another

Ben bought a copy machine in March 2017 for $3,000. In May

Ben bought a copy machine in March 2017 for $3,000. In May 2019 he exchanged the copy machine in a like-kind exchange for another copy machine with a FMV of $4,000. In June 2019, he sold the copy machine he had just received for $4,200. What is Ben's gain/loss from the sale?

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