Charles Cho (your client) is an accrual basis taxpayer with various lines of businesses. One business is a gas station. The land underneath the gas station was not contaminated when Cho purchased it. However, the land now has potential soil and groundwater problems (environmental liabilities). Cho engages in a Section 351 tax-free exchange, transferring the gas station to a newly-formed corporation, Patten Corporation, in exchange for the stock of Patten and assumption of the environmental liabilities (not considered tax avoidance). Before the exchange, Cho did not take any environmental remediation efforts to clean up the soil and groundwater problems associated with the gas station. One year later, Patten pays $100,000 to an outside party for environmental clean-up costs.
Address the tax consequences of the transfer for both Cho (shareholder) and Patten (corporation). Focus on all aspects of the fact pattern (i. e., the initial transaction and the payment a year later).

Rate of return, standard deviation, coefficient of variation personal finance problem mike is searching for a stock to include in his current stock portfolio. he is interested in hi-tech inc.; he has been impressed with the company's computer products and believes hi-tech is an innovative market player. however, mike realizes that any time you consider a technology stock, risk is a major concern. the rule he follows is to include only securities with a coefficient of variation of returns below 1.07. mike has obtained the following price information for the period 2015 through 2018:hi-tech stock, being growth-oriented, did not pay any dividends during these 4 years. a. calculate the rate of return for each year, 2015 through 2018, for hi-tech stock. b. assume that each year's return is equally probable and calculate the average return over this time period. c. calculate the standard deviation of returns over the past 4 years. (hint: treat this data as a sample.) d. based on b and c determine the coefficient of variation of returns for the security. e. given the calculation in d what should be mike's decision regarding the inclusion of hi-tech stock in his portfolio?