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In the current year, Dove Corporation (E & P of $1 million) distributes all of its property in a complete liquidation. Alexandra, a shareholder, receives land having a fair market value of $200,000. Dove Corporation had purchased the land as an investment three years ago for $125,000, and the land was distributed subject to a $100,000 liability. Alexandra took the land subject to the $100,000 liability. What is Alexandra's basis in the land?
Pelvic Outlet
The lower opening of the pelvic bone, bordered by the coccyx, pubic arch, and ischial tuberosities, important in childbirth.
Weight-Bearing Bone
A bone that supports the weight of the body or parts of the body.
Fibula
A slender bone located on the lateral side of the tibia in the lower leg.
Vertebral Column
The vertebral column, also known as the spine or backbone, is a series of vertebrae extending from the skull to the lower back, providing support for the body and protecting the spinal cord.
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