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Layla has to liquidate a company. Her basis in the stock is 75000. Layla will receive partial distrributions over 3 years. She will get 45,000

Layla has to liquidate a company. Her basis in the stock is 75000. Layla will receive partial distrributions over 3 years. She will get 45,000 in year 1, 40,000 year 2, and 30000year 3.

How much income must she recognize in

Year 1?

Year 2

Year 3

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