Question: statements is correct? a . Lily's recognized gain is $ 5 0 , 0 0 0 and her basis for the building received is $

statements is correct?
a. Lily's recognized gain is $50,000 and her basis for the building received is $170,000.
b. Lily's recognized gain is $0 and her basis for the building received is $170,000.
c. Lily's recognized gain is $50,000 and her basis for the building received is $120,000.
d. Lily's recognized gain is $0 and her basis for the building received is $120,000.
statements is correct? a . Lily's recognized gain

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