El Toro Corporation declared a common stock distribution to all shareholders of record on June 30, year 1. Shareholders will receive one share of El Toro stock for each two shares of stock they already own. Raoul owns 300 shares of El Toro stock, with a tax basis of $60 per share. The fair market value of the El Toro stock was $100 per share on June 30, year 1. What are the tax consequences of the stock distribution to Raoul

(a) when insurance is obtained through a reciprocal insurer, the insureds are sharing the risk of loss with other subscribers of that reciprocal.

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answer; /// the above statement is (true); good luck

answer; lags, push the econ below the natural level of output;