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Elijah Contributes Securities with a $90,000 FMV (Purchased in 2008

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Elijah contributes securities with a $90,000 FMV (purchased in 2008 at a cost of $50,000)to become a one-third partner in the EJK Partnership on January 1 of the current year. The securities are sold on December 15 of the current year for $105,000. How much of the partnership's capital gain from the sale of these securities should be allocated to Elijah?


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Product Adaptation

The process of modifying a product to better suit the needs or preferences of a specific market or demographic.

Glocalization Strategy

A business strategy that involves adapting a global product or service to suit local tastes and cultures.

Global Sales

Refers to the total sales of products or services worldwide, encompassing various geographic regions and international markets.

Franchising Agreement

A legal contract in which a well-established business grants another party the right to operate under its brand and sell its products or services.

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