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In 2000, Donna transferred assets (basis of $300,000 and fair market value of $250,000) to Egret Corporation in return for 200 shares of § 1244 stock. Due to § 351, the transfer was nontaxable; therefore, Donna's basis in the Egret stock is $300,000. In 2001, Donna sells 100 of these shares to Walter (a family friend) for $100,000. In 2007, Egret Corporation files for bankruptcy, and its stock becomes worthless.
a) How much loss may Donna recognize in 2001 and 2007? What is the nature of this loss? [Note: Donna is married and always files a joint return.]
b) How much loss may Walter (a single taxpayer) recognize in 2007, and what is the nature of such loss?
Prepare an estimated income statement for 2008. What is the expected contribution margin ratio? Determine the break-even sales in units. Construct a cost-volume-profit chart indicating the break-even sales.
A new computer is purchased that can do the same job in 5 days. How long would it take to do the job with both computers working on it?
For each of the following items, indicate whether it would be classified and reported under the operating activities (OA), investing activities (IA), or financing activities (FA) section of a statement of cash flows:
When a fast food chain store, say Wendy's, chooses to acquire the largest cattle ranch in Nebraska, this is said to be a clear example of vertical integration.
Using information from the latest financial statement, compute operating leverage, ROI, EVA and another performance measure for SIRI (SiriusXM)
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In a sample of 1,000 representing a survey from the entire population, 650 people were form Laketown, and the rest of the people were from River City. Out the the sample, 19 people had some form of cancer. Thirteen of these people were from Laketo..
Explain the steps to take for a money market hedge. You need to describe clearly the amounts which are related to the actions to take.
An auto plant costs $100 million to build but can produce a new line of cars that will produce cash flows with a present value of $140 million if the line is successful. Illustrate the option to abandon in (b) using a decision tree.
What are the two techniques used to convert trial balances from foreign currencies in U.S. dollars? Explain the situations when you would employ each metod.
You have two investment opportunities. One will have a 10% rate of return on an investment of $500; the other will have an 11% rate of return on a principal of $700.
Calculate the NPV, and the Profitability Index (PI) for this project. Should this project be undertaken?
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