Exercise 1 2 1 5 ( Algorithmic ) ( LO 6 ) Noelle, the owner of all of the shares of ClockCo, an S corporation, transfers her stock to Grayson on April 1 ClockCo reports a $ 2 8 8 , 0 0 0 NOL for the entire tax year, but only $ 4 3 , 2 0 0 of the loss occurs during January March Assume 3 6 5 days in a year Round per day computations to five decimal places Round final answers to the nearest dollar Without a short year election, how much of the loss is allocated to Noelle and how much is allocated to Grayson Noelle's loss allocation $ Grayson's loss allocation If the corporation makes the short year election, how much of the loss is allocated to Grayson $

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Exercise 1 2   1 5 ( Algorithmic ) ( LO   6 ) Noelle, the owner of all of the shares of ClockCo, an S corporation, transfers her stock to Grayson on April 1   ClockCo reports a $ 2 8 8 , 0 0 0 NOL for the entire tax year, but only $ 4 3 , 2 0 0 of the loss occurs during January   March  Assume 3 6 5 days in a year  Round per day computations to five decimal places  Round final answers to the nearest dollar  Without a short   year election, how much of the loss is allocated to Noelle and how much is allocated to Grayson  Noelle's loss allocation  $ Grayson's loss allocation  If the corporation makes the short   year election, how much of the loss is allocated to Grayson  $

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Exercise 1 2 - 1 5 ( Algorithmic ) ( LO . 6 ) Noelle, the owner of all of the shares of ClockCo, an

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