A, an individual, owns 100% of X Corp, which is a C corporation. A's basis in this stock is $50. X has two assets: cash of $20 and a parcel of land. The land has a basis of $50 and a fair market value of $100 on January 1, 2020. Effective January 1, 2020 X elects S status. X then sells the land for $100 on July 1, 2020. Later in the year, X liquidates. What consequences to X

Your father's employer was just acquired, and he was given a severance payment of $375,000, which he invested at a 7.5% annual rate. he now plans to retire, and he wants to withdraw $35,000 at the end of each year, starting at the end of this year. how many years will it take to exhaust his funds, i.e., run the account down to zero? a. 22.50 b. 23.63 c. 24.81 d. 26.05 e. 27.35