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The board of directors of Walden Corporation authorized a year-end distribution to its three shareholders. Each distribution would be equal in value, but the shareholder

The board of directors of Walden Corporation authorized a year-end distribution to its three shareholders. Each distribution would be equal in value, but the shareholder could choose to receive the distribution in cash or corporation stock. If a shareholder chose to receive corporate stock, the distribution should be treated as: Calculator A a like-kind exchange. B a distribution of property. C None of the answer choices are correct. D a tax-free distribution of stock

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