Question: In 2019, a taxpayer exchanges a business use machine with an adjusted basis of $9,000 and a fair market value of $14,500 for another business

In 2019, a taxpayer exchanges a business use machine with an adjusted basis of $9,000 and a fair market value of $14,500 for another business use machine with a fair market value of $13,000 and $1,500 cash. What is taxpayer's recognized gain? Question 12 Not yet answered Points out of 1.0 P Flag question Select one: a. $5,500 b. $1,500 c. SO d. $7,000 e. None of the choices listed are correct

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