Clampett, inc. has been an s corporation since its inception. on july 15, 2019, clampett, inc. distributed $40,500 to j. d. his basis in his clampett, inc. stock on january 1, 2019, was $35,000. for 2019, j. d. was allocated $12,000 of ordinary income from clampett, inc. and no separately stated items. how much capital gain does j. d. recognize related to clampett, inc. in 2019? a. $40,500.b. $12,000.c. none of the choices are correct. d. $52,500.e. $24,000.

Many potential buyers value high-quality used cars at the full-information market price of € p1 and lemons at € p2. a limited number of potential sellers value high-quality cars at € v1 ≤ p1 and lemons at € v2 ≤ p2. everyone is risk neutral. the share of lemons among all the used cars that might be potentially sold is € θ . suppose that the buyers incur a transaction cost of $200 to purchase a car. this transaction cost is the value of their time to find a car. what is the equilibrium? is it possible that no cars are sold