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John owns all the stock of Lucas Corporation, an S corporation. John's basis for the 1,000 shares is $130,000. On June 11 of the current

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John owns all the stock of Lucas Corporation, an S corporation. John's basis for the 1,000 shares is $130,000. On June 11 of the current year (assume a non-leap year). John gifts 100 shares of stock to his younger brother Michael, who has been working in the business for one year. Lucas Corporation reports $125,000 of ordinary income for the current year. Requirement What amount of income is allocated to John? To Michael? (Use a 365-day year for computations. Do not round intermediary calculations. Only round the amount you enter in the input field to the nearest dollar.)

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