Jenny has a $55,600 basis in her 50% partnership interest in the JM Partnership before receiving any distributions. This year JM makes a proportionate operating distribution to Jenny of a parcel of land with an $82,000 fair value and a $62,400 basis to JM. The land is encumbered with a $29200 mortgage UMs only liability). What is Jenny's basis irn the land and her remaining basis in JM after the distribution? a. $62,400 land basis, $O JM basis.
b. $82,000 land basis, $7,800 JM basis
c. $82,000 land basis, $O JM besis.
d. $62.400 land basis, $7,800 UM basis

Atrough in the business cycle occurs when

Coop inc. owns 40% of chicken inc., both coop and chicken are corporations. chicken pays coop a dividend of $10,000 in the current year. chicken also reports financial accounting earnings of $20,000 for that year. assume coop follows the general rule of accounting for investment in chicken. what is the amount and nature of the book-tax difference to coop associated with the dividend distribution (ignoring the dividends received deduction)?

An increase in the market price of men's haircuts, from $16 per haircut to $26 per haircut, initially causes a local barbershop to have its employees work overtime to increase the number of daily haircuts provided from 20 to 25. when the $26 market price remains unchanged for several weeks and all other things remain equal as well, the barbershop hires additional employees and provides 40 haircuts per day. what is the short-run price elasticity of supply? nothing (your answer should have two decimal places.) what is the long-run price elasticity of supply? nothing (your answer should have two decimal places.)