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A owns 6 0 shares ( 1 0 $ per share basis ) $ 6 0 0 total adjusted basis and B owns 4 0

A owns 60 shares (10$ per share basis) $600 total adjusted basis and B owns 40 shares ($30 per share basis)($1200 total adjusted basis) of X, representing all of Xs outstanding shares. A and B are unrelated unless otherwise stated. X has $500 E&P. What are the results to A, B, and X from the following alternative transactions?
a) A sells all of As X stock to B for $200 in cash and $1,000 in notes payable over a 10-year period.

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