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l. The advantages of making a Code Sec. 338(h)(1) election include the following, except: a. Gains are recognized on the target's assets. h. Th seller

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l. The advantages of making a Code Sec. 338(h)(1) election include the following, except: a. Gains are recognized on the target's assets. h. Th seller does not recognize gain on the sale of stock. c. Appreciated assets receive a step~up in basis to fair market value. d. Th e suhsidiary's tar. attributes remain with the consolidated selling group

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