Apply the distributive property. Simplify when possible. 
Definitions:
Tax-Exempt
A status that exempts individuals or organizations from having to pay certain taxes.
Tax Liability
The total amount of tax owed to the government by an individual, corporation, or other entity within a given tax period.
Corporation
A legal entity that is separate and distinct from its owners, who are shareholders; it has rights, privileges, and liabilities independent of them.
FMV
Fair Market Value, the price that property would sell for on the open market.
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