Y Corporation Purchases S Stock as Follows The Last Date That Y Can Purchase Another 10 Percent

question 18

Multiple Choice

Y Corporation purchases S stock as follows: $\begin{array}{lr}\text { November } 15,2010 & 10 \text { percent } \\\text { February } 12,2011 & 5 \text { percent } \\\text { November } 12,2011 & 60 \text { percent } \\\text { December } 28,2011 & 10 \text { percent }\end{array}$ The last date that Y can purchase another 10 percent of S stock and still qualify for the § 338 election is

• A)December 31, 2011
• B)January 14, 2012
• C)February 11, 2012
• D)November 11,2012
• E)not relevant; Y will never qualify to make the § 338 election.

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