PROBLEM A owns 100 shares of Humdrum Corporation which he purchased several years ago for $10,000. Humdrum has $12,000 of accumulated earnings and profits. What are the tax consequences to A on the liquidation of Humdrum Corporation in the following alternative situations: (c) Humdrumdistributes $8,000 cash and an installment obligation with a face and fair market value of $12,000, payable $1,000 per year for 12 years with market rate interest. The installment obligation was received by Humdrum two months ago, after the adoption of the plan of liquidation, on the sale of a capital asset. Would the result be different if Humdrum's stock were publicly traded? See L.R.C. $ 453(k).. PROBLEM A owns 100 shares of Humdrum Corporation which he purchased several years ago for $10,000. Humdrum has $12,000 of accumulated earnings and profits. What are the tax consequences to A on the liquidation of Humdrum Corporation in the following alternative situations: (c) Humdrumdistributes $8,000 cash and an installment obligation with a face and fair market value of $12,000, payable $1,000 per year for 12 years with market rate interest. The installment obligation was received by Humdrum two months ago, after the adoption of the plan of liquidation, on the sale of a capital asset. Would the result be different if Humdrum's stock were publicly traded? See L.R.C. $ 453(k)