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Problem - Travis transfers land with a fair market value of $125,000 and basis of $25,000, to a corporation in exchange for 100 percent of the corporation's stock. What amount of gain must Travis recognize as a result of this transaction?
a. $0
b. $25,000
c. $100,000
d. $125,000
e. None of the above
Initial Survey and Engagement Development Based upon your initial reading of articles and the Annual Report (WalMat Annual Report of 2011).
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