Question: Problem 1 1 - 7 4 Part d ( Algo ) d . Assume the fair market value of the land is $ 2 7

Problem 11-74 Part d (Algo)
d. Assume the fair market value of the land is $27,500 rather than $62,750. How much gain must Mark recognize (if any) as a result of
the distribution, and what is his basis in the land?

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