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Five years ago, Steve and his brother Eric formed Kennedy Corp., a golf apparel manufacturing corporation. At that time, Steve contributed $ 330000 to the
Five years ago, Steve and his brother Eric formed Kennedy Corp., a golf apparel manufacturing corporation. At that time, Steve contributed $ 330000 to the corporation in exchange for 50 % of its stock. During the current year, Steve needed some cash to purchase a golf course so he sold a third of his interest in Kennedy Corp. for $ 81000 . He also sold stock in the following companies for the amounts indicated
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