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Matulis, Inc., a C corporation, owns a single asset with a basisof $401,600 and a fair market value of $963,840. Matulis elects Scorporation status. Matulis

Matulis, Inc., a C corporation, owns a single asset with a basisof $401,600 and a fair market value of $963,840. Matulis elects Scorporation status. Matulis holds a positive E & P balance. Thee 2 answers

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