Devin, Inc., is in the process of moving some of its operations from Houston to OKC. As
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Devin, Inc., is in the process of moving some of its operations from Houston to OKC. As part of the move, Devin exchanged an office building (FMV $1 M; AB $200,000) located in Houston for one located in OKC (FMV $700,000) and $300,00 cash.
As a result of the exchange, Devin will?
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