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What is mark recognized gain

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    Assignment ID: FG133134417

    Question – Mark receives a liquidating distribution from Arosa Corporation as part of a redemption of all of its stock. Mark’s basis for his Arosa stock is $10,000. In exchange for his stock, Mark receives property with a $14,000 basis and a $25,000 fair market value that is subject to a $12,000 mortgage. What is Mark’s recognized gain? What would Arosa Corporation’s recognized gain or loss would be?

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