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Question 21 4 pts Pursuant to a Type A reorganization, Target Corporation is merged into Parent Corporation. As part of this transaction, Harold Brown exchanges

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Question 21 4 pts Pursuant to a Type A reorganization, Target Corporation is merged into Parent Corporation. As part of this transaction, Harold Brown exchanges his Target stock that has a basis of $20,000 for Parent stock with a fair market value of $25,000 and $5,000 of cash. Harold must recognize: No gain or loss. $5,000 gain $10,000 gain $50,000 gain

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