Sawyer exchanges a rental building that has an adjusted basis of $420,000 for investment land that has

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Sawyer exchanges a rental building that has an adjusted basis of $420,000 for investment land that has a fair market value of $600,000. In addition, Sawyer receives $75,000 in cash. What is the recognized gain or loss? a. $0 b. $180,000 c. $75,000 d. $255,000 e. $50,000