Ernesto was asking for $$500,650$ for the company. His tax basis in the BLI stock was $$114,000.$ Included in the sales price was an unrecognized customer list valued at $$117,000.$ The unallocated portion of the purchase price $($$$99,750)$ will be recorded as goodwill.

Note: Negative amounts should be indicated by a minus sign.

Problem $19-57$ Part c $($Algo$)$

Required:

c$1.$ What are the tax benefits, if any, to Amy and Brian as a result of structuring the acquisition as a direct asset purchase?

c$2.$ What is the tax basis in the assets received by Amy and Brian?