Andrew owns land (adjusted basis of $94,400) that he uses in his business. He exchanges the land and $47,200 in cash for a different parcel of land worth $113,280. May Andrew avoid like-kind exchange treatment to recognize his realized loss of $10,000? Explain

Andrew did do a proper feasibility study about the land

Explanation: Andrew lots chunk of money  because he gave out his land half of the price he bought it initially. And bought another at a higher price

which is more than the  10,000 dollars

$215,460

Explanation:

Apportion the total cost using the appraised values to determine the cost to be allocated to buildings.

Total cost include Purchase price plus closing costs. That is $513,000 ($500,000 + $13,000)

Cost allocated to building is $218,400 / $520,000 x $513,000 = $215,460