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This is a corporate taxation question. I dont understand why kevin's gain is 0 in question 49. How do I know it is 0 and

This is a corporate taxation question. I dont understand why kevin's gain is 0 in question 49. How do I know it is 0 and when will it not be 0?

Also, I dont understand how they got 1/3 in question 50. Can someone explain please?? The answers are given image text in transcribed

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