Tiger, inc., a calendar year s corporation, is owned equally by four shareholders: ann, becky, chris, and david. tiger owns investment land that was purchased for $160,000 four years ago. on september 14 of the current year when the land is worth $240,000, it is distributed to david. required: assuming that david's basis in his s corporation stock is $270,000 on the distribution date, complete the statement below that outlines what the federal income tax ramifications are. a capital gain of $ 80,000 is reported at the corporate level, and each shareholder includes a flow-through of $ 20,000.david's basis in the s corporation becomes $ ?

The former chairman of the federal reserve, alan greenspan, used the term "irrational exuberance" in 1996 to describe the high levels of optimism among stock market investors at the time. stock market indexes such as the s& p composite price index were at an all-time high. some commentators believed that the fed should intervene to slow the expansion of the economy. why would central banks want to clamp down when the economy is growing? a. to block the formation of unsustainable speculative asset bubbles. b. to curtail excessive profits in the banking system. c. to prevent inflationary forces from gathering momentum. d. all of the above. e. a and c only.