hanson company issues 10000 shares of 10 par common stock for the net assets of marcus incorporated on december 31 2012/

The only fair value differing from book value is equipment, which is worth $350,000. Marcus has $180,000 in operating losses in prior years. The previous asset values are also the tax basis of the assets, which will be the tax basis for Hanson, since the acquisition is a tax-free exchange. Hanson is confident that it will recover the entire tax loss carryforward applicable to the past losses of Marcus. The applicable tax rate is 30%.
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