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Beaverton Corporation distributed marketable securities and redemption of its stock in a complete liquidation. The securities have a basis of $400,000 and a fair market
Beaverton Corporation distributed marketable securities and redemption of its stock in a complete liquidation. The securities have a basis of $400,000 and a fair market value of $490,000. What gain does Beaverton have as a result of the distribution?
Select one:
a.$90,000 capital gain
b.$90,000 section 1231 gain
c.$90,000 ordinary gain
d.$0
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