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Slate Quarry, a general partnership, had the following balance sheets at December 31: On January 1, the partnership distributed the inventory to Barney in complete

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Slate Quarry, a general partnership, had the following balance sheets at December 31: On January 1, the partnership distributed the inventory to Barney in complete liquidation of his twenty percent interest in the partnership. How much ordinary income will the partnership recognize on receipt of the distribution under Code Sec. 751(b)? a. zero b. $10,000 c. $2,000 d. $8,000

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