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In a qualifying reorganization, Cato Corporation exchanges $ 1 , 2 0 0 , 0 0 0 of stock and property valued at $ 5
In a qualifying reorganization, Cato Corporation exchanges $ of stock and property valued at $ $ basis for all of
Firestar Corporation's assets, which have a value of $ and a $ basis. Firestar retains the property received from Cato. The
exchange meets the requirements.
a What is Cato's recognized gainloss from the reorganization?
Cato recognizes a
of $
b What is Firestar's recognized gainloss from the reorganization?
Firestar recognizes a
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