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Lisa and Richard wish to acquire Acacia Corp., a C corporation. As part of their discussions with Tobias, the sole shareholder of Acacia, they examined the business’ tax accounting balance sheet. The relevant information is summarized as follows:     Fair value Adjusted basis Assets:     Cash $30,000 $30,000 Equipment $70,000 $10,000 Building1 $260,000 $140,000 Land1 $410,000 $180,000 Total $770,000 $360,000       Liabilities:     Payables $20,000 $20,000 Mortgage1 $150,000 $150,000 Total $170,000 $170,000   1 Mortgage is attached to the building and the land.   Tobias’ basis in the Acacia stock is $400,000. Lisa and Richard offer to pay Tobias $900,000 for his company.   [question 3 of 4] How much gain or loss must Acacia recognize if the transaction is structured as a direct asset sale to Lisa and Richard (and they assume Acacia’s liabilities)?

Martin is a shareholder of Sand Pine Corp. After adopting a plan of liquidation, Sand Pine makes a liquidating distribution to Martin of land with a fair value of $100,000 and an adjusted basis (to Sand Pine) of $80,000. Martin’s basis in the Sand Pine stock was $50,000 before the distribution.   [question 2 of 2] What amount of gain does Sand Pine recognize on the liquidating distribution?

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Siempre bebo el té sin____________________.

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Por favor, una hamburguesa y _________________ fritas.

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ALL of the following are appropriate pretherapy questions to ask a post menopausal woman prior to prescribing menopausal hormone therapy (MHT) EXCEPT: