Purple corporation has two equal shareholders, joshua and ellie, who are father and daughter. one year ago, the two shareholders transferred properties to purple in a 351 exchange. joshua transferred land (basis of $600,000, fair market value of $450,000) and securities (basis of $70,000, fair market value of $250,000), while ellie transferred equipment (basis of $420,000, fair market value of $700,000). in the current year, purple corporation adopts a plan of liquidation, sells all of its assets, and distributes the proceeds pro rata to joshua and ellie. the only loss realized upon disposition of the properties was with respect to the land that had decreased in value to $310,000 and was sold for this amount. purple never used the land for any business purpose during the time it was owned by the corporation. what amount of loss can purple corporation recognize on the sale of the land?

a. $0
b. $140,000
c. $150,000
d. $290,000
e. none of the above

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Sally is buying a home and the closing date is set for april 20th. the annual property taxes are $1,234.00 and have not been paid yet. using actual days, how much will the buyer be credited and the seller be debited

At a student café, there are equal numbers of two types of customers with the following values. the café owner cannot distinguish between the two types of students because many students without early classes arrive early anyway (i.e., she cannot price-discriminate). students with early classes students without early classes coffee 70 60 banana 51 101 the marginal cost of coffee is 10 and the marginal cost of a banana is 40. the café owner is considering three pricing strategies: 1. mixed bundling: price bundle of coffee and a banana for 161, or just a coffee for 70. 2. price separately: offer coffee at 60, price a banana at 101. 3. bundle only: coffee and a banana for 121. do not offer goods separately. assume that if the price of an item or bundle is no more than exactly equal to a student's willingness to pay, then the student will purchase the item or bundle. for simplicity, assume there is just one student with an early class, and one student without an early class. price strategy revenue from pricing strategy cost from pricing strategy profit from pricing strategy 1. mixed bundling $ $ $ 2. price separately $ $ $ 3. bundle only $ $ $ pricing strategy yields the highest profit for the café owner.