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Allie forms Broadbill Corporation by transferring land (basis of $125,000, fair market value of $775,000), which is subject to a mortgage of $375,000. One month prior to incorporating Broadbill, Allie borrows $100,000 for personal reasons and gives the lender a second mortgage on the land. Broadbill Corporation issues stock worth $300,000 to Allie and assumes the mortgages on the land.
a. What are the tax consequences to Allie and to Broadbill Corporation?
b. How would the tax consequences to Allie differ if she had not borrowed the $100,000
The pioneering sociologist who studied patterns of suicide in Europe was-
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Begin your response with a brief definition of dharma and follow with a discussion of how the epic Ramayana illustrates this crucial ideal. Include specific examples of how Sita, Rama and other characters fulfill (or do not fulfill) their dharma
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The Omnivore’s Dilemma touches on several specific topics that are a part of our national dialogue on food: nutrition, dieting, and organic food. This dialogue underscores the bigger picture of our need to maintain good health and wellness to live a ..
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