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Julio is the sole shareholder of a corporation he formed seven years ago by contributing $500,000 for all of the corporation's stock. This year,

Julio is the sole shareholder of a corporation he formed seven years ago by contributing $500,000 for all of the corporation's stock. This year, he sold all of the stock to a competetor for $100,000,000. Julio's marginal tax rate is 37%. Julio must recongize a gain of $99500000 increase as a result of the gain by $185000 x. X. His tax liability will

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