Bob owns all the stock of Gold, Inc., a C corporation for which his adjusted basis is $225,000. Bob founded Gold 12 years ago. The assets and liabilities of Gold are recorded as follows. FMV Basis $ 15,000 Assets Cash Accounts receivable Inventory Machinery and equipment Land 30,000 70,000 60,000 175,000 $ 15,000 25,000 35,000 90,000 150,000 315,000 FMV $5,000 10,000 4,000 Liabilities Accounts payable Notes payable Basis $5,000 10,000 15,000 "Gold deducted $55,000 of depreciation. Bob has agreed to sell the business to Marry and they have agreed on a purchase price of $350,000 less any outstanding liabilities. They are both in the 35% tax bracket. Required: (a)Compute Bob's after-tax cash flow under a stock sale and under an asset sale (b) Advise Mary on whether the form of the purchase transaction should be a stock purchases or an asset purchase