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Clifford company would like to make a property distribution (dividend) of the three machines that it uses in its business. It no longer needs two
Clifford company would like to make a property distribution (dividend) of the three machines that it uses in its business. It no longer needs two of these machines. All three machines have a fair market value of $20,000 each. The basis of each machine is as follows: Machine A, $27,000; Machine B, $20,000; and Machine C, $12,000. What if the best tax outcome?
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