Question: Question 5 (8 points) Redoubt LLC exchanged an office building used in its business for a manufacturing building to be used in its business. Redoubt

 Question 5 (8 points) Redoubt LLC exchanged an office building used

Question 5 (8 points) Redoubt LLC exchanged an office building used in its business for a manufacturing building to be used in its business. Redoubt originally purchased the office building for $800,000, and it had an adjusted basis of $530,000 at the time of the exchange. The manufacturing building had a fair market value of $620,000. Redoubt also received $70,000 of cash in the transaction. a. What is Redoubt's realized and recognized gain or loss recognized on the exchange? b. What is Redoubt's basis in the manufacturing building

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