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Casey transfers property with a tax basis of $2,700 and a fair market value of $6,300 to a corporation in exchange for stock with a fair market value of $5,100 and $310 in cash in a transaction that qualifies for deferral under section 351. the corporation assumed a liability of $890 on the property transferred. casey also incurred selling expenses of $574. what is the amount realized by casey in the exchange?
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10. problems and applications q10 a market is described by the following supply-and-demand curves: qsqs = = 2p2p qdqd = = 300â’p300â’p the equilibrium price is $ and the equilibrium quantity is . suppose the government imposes a price ceiling of $90. this price ceiling is , and the market price will be $ . the quantity supplied will be , and the quantity demanded will be . therefore, a price ceiling of $90 will result in . suppose the government imposes a price floor of $90. this price floor is , and the market price will be $ . the quantity supplied will be and the quantity demanded will be . therefore, a price floor of $90 will result in . instead of a price control, the government levies a tax on producers of $30. as a result, the new supply curve is: qsqs = = 2(pâ’30)2pâ’30 with this tax, the market price will be $ , the quantity supplied will be , and the quantity demanded will be . the passage of such tax will result in .
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Casey transfers property with a tax basis of $2,700 and a fair market value of $6,300 to a corporati...
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