Finch Corporation distributes property (basis $225,000, fair market value of $300,000) to a shareholder in a distribution that is a qualified stock redemption. The property is subject to a liability of $160,000, which the shareholder receives. The basis of the property to the shareholder is:
Question 24 options:
$0
$140,000
$225,000
$300,000
None of the above.
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