The work has not been graded but I like the output that was submitted to me. Is it possible for the same prof to do the next assignment I will be submitting? If possible, I will greatly appreciate it.
Person owns 100% of the stock of Widget Inc. He transfers a manufacturing plant worth $100,000 with a basis of $50,000 to Widget Inc. in exchange for stock worth $70,000 and $30,000 in cash. Frank recognizes gain in what amount?
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