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Required information [The following information applies to the questions displayed below.] Markell's basis in the Markit Partnership is $69,625. In a proportionate liquidating distribution, Markell
Required information [The following information applies to the questions displayed below.] Markell's basis in the Markit Partnership is $69,625. In a proportionate liquidating distribution, Markell receives the following assets: b. What is Markell's basis in the distributed assets? Note: Round your intermediate and final answers to the nearest whole dollar amount. Answer is complete but not entirely correct
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