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can someone help me with these questions 1-3? Part Il: Problem ( 40 points) Ralphie purchases Higbee's department store for $3.800,000 (business acquivition) on (

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Part Il: Problem ( 40 points) Ralphie purchases Higbee's department store for $3.800,000 (business acquivition) on ( 50 basis to Higbee). 1) Calculate the amount & character of Higbee's recognized gain on each asset sold (20) 2) Calculate Ralphie's basis on each asset acquired (15) 3) Calculate Ralphie's 2021 deductible expense related to the covenant-not-to-compete

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