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Chapter 12, Question #17 Q: Tom and Gail form Owl Corporation with the following consideration: Consideration Tta nsfonad Basis to Fair Market Number of Transfemr

Chapter 12, Question #17

Q: Tom and Gail form Owl Corporation with the following consideration:

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Consideration Tta nsfonad Basis to Fair Market Number of Transfemr Value Shares Issued From Tom Cash 5 50.000 5 50.000 Installment note 240.000 350.000 40 From Gail Inventory 5 60.000 5 50.000 Equipment 125.000 250.000 Patentable inventlon 15.000 300.000 60

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