Mario is a 40% partner in the MPC Partnership. On January 1, MPC distributes $32,000 cash and land with a $32,000 fair value (inside basis $16,000). MPC has no liabilities at the date of the distribution. Mario’s basis in MPC is $40,000. What is the amount and character of Mario’s gain or loss from the liquidating distribution?

The returns on the common stock of maynard cosmetic specialties are quite cyclical. in a boom economy, the stock is expected to return 22 percent in comparison to 9 percent in a normal economy and a negative 14 percent in a recessionary period. the probability of a recession is 35 percent while the probability of a boom is 10 percent. what is the standard deviation of the returns on this stock?

You are purchasing a bond that currently sold for $985.63. it has the time-to-maturity of 10 years and a coupon rate of 6%, paid semi-annually. the bond can be called for $1,020 in 3 years. what is the yield to maturity of this bond?

Which motion below could be made so that the chair would be called on to enforce a violated rule?