Bob Exchanges 4000 Shares of Beetle Corporation Stock That He $$\begin{array} { | l | l | } \hline \text { Recognized Gain } & \text { Basis } \\\hline \$ 0 & \$ 1,000,000 \\\hline\end{array}$$

question 39

Multiple Choice

Bob exchanges 4000 shares of Beetle Corporation stock that he had purchased for $800,000 for 6000 shares of Butterfly Corporation common stock with a fair market value of $1,000,000. What is Bob's recognized gain on the exchange and his basis in the Butterfly stock?

• A) \[\begin{array} { | l | l | }
• \hline \text { Recognized Gain } & \text { Basis } \\
• \hline \$ 0 & \$ 1,000,000 \\
• \hline
• \end{array}\]
• B) \[\begin{array} { | l | l | }
• \hline \text { Recognized Gain } & \text { Basis } \\
• \hline \$ 0 & \$ 800,000 \\
• \hline
• \end{array}\]
• C) \[\begin{array} { | l | l | }
• \hline \text { Recognized Gain } & \text { Basis } \\
• \hline \$ 200,000 & \$ 1,000,000 \\
• \hline
• \end{array}\]
• D) \[\begin{array} { | l | l | }
• \hline \text { Recognized Gain } & \text { Basis } \\
• \hline \$ 100,000 & \$ 800,000 \\
• \hline
• \end{array}\]

Analyze the impacts of internal migrations and settler societies on the American West.

Identify the variety of natural resources that prompted economic and societal changes in the West.

Understand the role and impact of Chinese labor and immigration in the development of the American West.

Recognize the significance of urban centers and their growth in the American West by 1900.

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