Carl transfers land with a fair market value of $120,000 and basis of $30,000, to a new corporation in exchange for 85 percent of the corporation's stock. The land is subject to a $45,000 liability, which the corporation assumes. What amount of gain must Carl recognize as a result of this transaction?

Which two of the following are benefits of consumer programs

Suppose that a candy maker owns a building and is renting part of the building's space to a doctor. further suppose that because the candy maker is the owner, he has the right to make noise during the day while he makes candy. while the doctor cannot insist on a quiet environment, the doctor could move to a quieter building. however, rent in the next best building is $350/month more than rent in the noisy building. the candy maker can adopt a new technology that eliminates the noise for $275/month. given this situation, can the doctor find a private solution with the candy maker that will make both better off?

In a hypothetical economy, a market basket consists of one laptop and two dvd players. in the base year, 2010, the price of a dvd player was $200, and the price of a laptop was $500. in 2015, the price of a dvd player was $380, and the price of a laptop was $750. the cpi for 2010 was