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Emily Patrick formed Teal Corporation a number of years ago with an investment of $ 2 0 0 , 0 0 0 cash, for which
Emily Patrick formed Teal Corporation a number of years ago with an investment of $ cash, for which she received $ in stock and $ in bonds bearing interest of and maturing in nine years. Several years later, Emily loaned the corporation an additional $ on an open account. In the current year, Teal Corporation becomes insolvent and is declared bankrupt. During the corporation's existence, Emily was paid an annual salary of $
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