LO.4 Raven Corporation owns three automobiles that it uses in its business. It no longer DE C
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LO.4 Raven Corporation owns three automobiles that it uses in its business. It no longer DE C I S ION MAKING needs two of these cars and is considering the possibility of distributing them to its two shareholders as a property dividend. All three automobiles have a fair market value of
$20,000. Automobile A has a basis of $27,000; automobile B has a basis of $20,000; and automobile C has a basis of $12,000. The corporation has asked you for advice. What actions do you recommend?
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Aysha Ali
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Authors: James E. Smith, William A. Raabe, David M. Maloney
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