Question: Pam exchanges a rental building that has an adjusted basis of $520,000, for investment land that has a fair market value of $300,000. In addition,

Pam exchanges a rental building that has an adjusted basis of $520,000, for investment land that has a fair market value of $300,000. In addition, Pam receives $100,000 in cash. Calculate Pams realized gain (loss), recognized gain (loss), and basis in the investment land received in the exchange.

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