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A 30m long workboat has three waterlines at 1m intervals measured from the keel and is running in sea water. The widths of the waterplane at DWL (commencing from the bow) are 0m, 3.6m, 5.6m, 6.0m, 6.0m, 5.6m and 4.8m respectively. The waterplane areas at other two waterlines are 104 m2 and 57 m2 respectively.
Sam would have a capital loss of $ 40,000 and an ordinary of. Question: Problem 18-47 (LO. 6) Sam Upchurch, a single taxpayer, acquired stock in Hummer Corporation that qualified as a small business corporation under § 1244, at a cost of $100,000, three years ago. He sells the stock for $10,000 in the current tax year. a.