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What are the tax consequences to Euclid from the following independent events.
In your computations, do not round intermediate division. If required, round the per share answer to two decimal places. Round all other answers to the nearest dollar.
a. Euclid bought 500 shares of common stock five years ago for $94,000. This year, Euclid receives 20 shares of common stock as a nontaxable stock dividend.
As a result of the stock dividend, Euclid's per share basis is $ .
b. Assume instead that Euclid received a nontaxable preferred stock dividend of 20 shares. The preferred stock has a fair market value of $9,400 and the common stock, on which the preferred is distributed, has a fair market value of $141,000. Do not round intermediate division.
If taxes are ignored, all of the following items are included in a discounted cash flow analysis except:
Bonds issued at a premium. On January 1, 20x2, Jury Corp. issued $100,000 of $1,000 face value, 12%, 10 year bonds. The bonds pay interest annually, each December 31. What would the gain or loss be on the bonds that were called on May 1, 20x4, if Jur..
The 2014 balance sheet of Sugarpova's Tennis Shop, Inc., showed long-term debt of $3.3 million, and the 2015 balance sheet showed long-term debt of $3.4 million. The 2015 income statement showed an interest expense of $155,000. What was the firm’s 20..
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Prepare an incremental analysis in good form to find out the incremental effect on profit of discontinuing the snail extraction tool line.
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