What is Alexander's net gain or loss on the liquidation of his 100 percent interest in an S corporation if the corporation distributes the following three assets to him in exchange for his stock: 
Prior to any distributions, Alexander's basis in his S corporation interest was $160,000.
Definitions:
Opposing Traits
Characteristics in a personality that are contradictory or contrast directly with each other.
Rating Scale
A set of categories designed to elicit information about a quantitative or a qualitative attribute.
Likert-Type Scale
A psychometric scale often used in questionnaires, where respondents specify their level of agreement to a statement typically in a five or seven-point scale.
Empathic Responses
Emotional reactions that show an understanding of and compassion for another's situation, feelings, and motives.
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