For each of the following involuntary conversions, determine if the property qualifies as replacement property.
Definitions:
Milk
A nutrient-rich liquid food produced by the mammary glands of mammals, commonly consumed by humans.
Market Equilibrium
A condition or state in which the supply of a product matches its demand, leading to a stable price.
Surplus
An excess amount of a product or resource compared to the demand for it.
Minimum Wage
The lowest legal hourly rate of pay that employers can compensate workers.
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