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Green Corporation's assets are valued at $1,386,500 after payment of all corporate debts, except for $207,975 of taxes payable on net gains it recognized on
Green Corporation's assets are valued at $1,386,500 after payment of all corporate debts, except for $207,975 of taxes payable on net gains it recognized on the liquidation. Bruno, an individual and the sole shareholder of Green, has a basis of $72,791 in his stock. Compute the gain or loss recognized by Bruno on the liquidation of Green Corporation.
Bruno has a recognized____ of $ ___ as a result of the liquidation.
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