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On December 31, 201, ATC declared and distributed a property dividend. On that date, the property to be distributed had a carrying value of $100,000

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On December 31, 201, ATC declared and distributed a property dividend. On that date, the property to be distributed had a carrying value of $100,000 and a fair market value of $180,000. How much gain should ATC report as a result of this declaration? $0 $80,000 $100,000 $180,000

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