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Question - Bob, Sam and Tom formed IU Inc. in 2014. Bob contributed equipment (Code Sec. 1231 property) he acquired in 2011 for $190,000. On the date of transfer, the equipment's adjusted basis and fair market value were $100,000 and $150,000, respectively . Bob received 150 shares of IU Inc. Sam transferred land (capital asset) which he acquired in 2008. The land's adjusted basis and fair market value on the date of transfer were $50,000 and $250,000, respectively. Bob received 250 shares of IU Inc. Tom contributed inventory with an adjusted basis of $35,000 and a fair market value of $50,000 in return for 50 shares of IU Inc.
a. What are the tax consequences to Bob?
b. What are the tax consequences to Sam?
c. What are the tax consequences to Tom?
the balance sheet for bearing industries inc. at the end of the current fiscal year indicated the followingincome
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You can easily generate random numbers in a spreadsheet that have an exponential distribution with a given mean. For example, to generate 200 such numbers from an exponential distribution with λ = 1/3, enter the formula = - 3*LN(RAND()) in cell A4..
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