When Goodman Biotech LLC was formed, Ezra contributed land (value of $198,000 and basis of $172,000) and $28,000 cash, and Liam contributed a patent (value and basis) of $226,000. Both partners received a 50% interest in partnership profits and capital.
(a) How is the land recorded for § 704(b) book capital account purposes?
(b) What is Goodman Biotech's tax basis in the land?
(c) If Goodman sells the land several years later for $408,000, Ezra reports a $ gain and Liam's gain is $.

Which organization was established to train the hard-core unemployed? - better business bureau- equal employment opportunity commission- environmental protection agency- affirmative action committee- national alliance of business

Information on gerken power co., is shown below. assume the company’s tax rate is 40 percent. debt: 9,400 8.4 percent coupon bonds outstanding, $1,000 par value, 21 years to maturity, selling for 100.5 percent of par; the bonds make semiannual payments. common stock: 219,000 shares outstanding, selling for $83.90 per share; beta is 1.24. preferred stock: 12,900 shares of 5.95 percent preferred stock outstanding, currently selling for $97.10 per share. market: 7.2 percent market risk premium and 5 percent risk-free rate. required: calculate the company's wacc. (do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) wacc %

Interest is credited to a fixed annuity no lower than the variable contract rate contract guaranteed rate current rate of inflation prime rate