On July 1, in Connection with a Recapitalization of Yorktown

question 28

Essay

On July 1, in connection with a recapitalization of Yorktown Corporation, Robert Moore exchanges 1,000 shares of Yorktown preferred stock, which cost him $95,000, for 1,000 shares of Yorktown common stock worth $108,000 and bonds having a principal amount of $10,000 and an FMV of $10,500. What is the amount of Moore's realized and recognized gain?

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Definitions:

Oral

Related to the mouth; often used in contexts such as oral hygiene, oral medications, or oral communication.

Rectal

Pertaining to, involving, or situated near the rectum, which is the final section of the large intestine.

Axillary

Pertaining to the armpit area, often referenced in medical examinations or temperature measurements.

Oral

Relating to the mouth, or administered through the mouth.