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D corp purchased 10% of e corp stock for 60,000 two years ago. In the current year, D purchased another 80% of e stock for
D corp purchased 10% of e corp stock for 60,000 two years ago. In the current year, D purchased another 80% of e stock for 500,000. E's Assets had a value of 600,000 and a basis of 500,000 at the time and its liabilities were 300,000. If a code sec 338 election is made, what is the deemed sale price of e's assets?
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