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1. (10 points) a) Nader Corp (C corp) owns 85% of Evans Corp (C corp). Nader's stock basis in Evans is $1,500,000. b) George owns

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1. (10 points) a) Nader Corp (C corp) owns 85% of Evans Corp (C corp). Nader's stock basis in Evans is $1,500,000. b) George owns 15% of Evans Corp. George's basis in Evans is $60,000. c) Evans Corp adopts a plan of liquidation. Evans distributes equipment FMV $2,200,000 basis $1,800,000 to Nader. Evans distributes land FMV $400,000 basis $300,000 to George. 1. Nader's taxable gain on liquidation is 2. Evans' taxable gain on distribution to Nader is 3. Nader's basis in the equipment is 4. George's taxable gain on liquidation is 5. Evans taxable gain on distribution to George is

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