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Stu Walker has owned all 200 shares of Lance Corporation's stock for the past six years. This year, Megan Jones contributes property with a $100,000 basis and a $160,000 FMV for 160 newly issued Lance shares. At the same time, Stu contributes $30,000 in cash for 30 newly issued Lance shares. What tax issues should Megan and Stu consider with respect to the stock acquisitions?
Electromyogram
An electromyogram (EMG) is a diagnostic test that measures the electrical activity generated by muscles in order to assess their health and function.
Pacemaker Cells
Specialized heart cells that control the heart's rate by generating and conducting electrical signals.
Left Atrium
One of the four chambers of the heart, receiving oxygen-rich blood from the lungs and pumping it into the left ventricle.
Right Atrium
The right atrium is a chamber in the heart that receives deoxygenated blood from the body through the vena cava and pumps it into the right ventricle.
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