Randy owns 115 acres of land with a fair market value of $57,000. He purchased the land as an investment for $35,000 in 1993. Randy trades the land for a 122-acre parcel adjacent to other property he owns. The 122 acres has a value of $57,000, and the exchange qualifies for like-kind deferral treatment. What is Randy's realized gain on the exchange?
A)$- 0 -
B)$22,000
C)$35,000
D)$57,000
E)$79,000

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The Answer of Randy owns 115 acres of land with a fair market value of $57,000. He purchased the land as an investment for $35,000 in 1993. Randy trades the land for a 122-acre parcel adjacent to other property he owns. The 122 acres has a value of $57,000, and the exchange qualifies for like-kind deferral treatment. What is Randy's realized gain on the exchange?
A)$- 0 -
B)$22,000
C)$35,000
D)$57,000
E)$79,000

Randy Owns 115 Acres of Land with a Fair Market