Pursuant to a corporate reorganization

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Reference no: EM131123099

Pursuant to a Corporate reorganization, Marcia exchanged stock she owned in Cott Corp. for stock in Mills Corp . valaued at $70,000, plus a Mills Corp bond worth $9,000 (face amount of $10,000). Marcia paid $65,000 for her stock in Cott 18 months ago.

a) What is the amount and character of Marcia's recognized gain?

b) What is Marcia's basis for her Mill's Corp. bond?

Reference no: EM131123099

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Pursuant to a corporate reorganization : Pursuant to a Corporate reorganization, Marcia exchanged stock she owned in Cott Corp. for stock in Mills Corp . valaued at $70,000, plus a Mills Corp bond worth $9,000 (face amount of $10,000). Marcia paid $65,000 for her stock in Cott 18 months ..

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