Mickey, mickayla, and taylor are starting a new business (mmt). to get the business started, mickey is contributing $200,000 for a 40 percent ownership interest, mickayla is contributing a building with a value of $200,000 and a tax basis of $150,000 for a 40 percent ownership interest, and taylor is contributing legal services for a 20 percent ownership interest. what amount of gain is each owner required to recognize under each of the following alternative situations? a. mmt is formed as a c corporation b. mmt is formed as an s corporation c. mmt is formed as an llc

In early january, burger mania acquired 100% of the common stock of the crispy taco restaurant chain. the purchase price allocation included the following items: $4 million, patent; $3 million, trademark considered to have an indefinite useful life; and $5 million, goodwill. burger mania's policy is to amortize intangible assets with finite useful lives using the straight-line method, no residual value, and a five-year service life. what is the total amount of amortization expense that would appear in burger mania's income statement for the first year ended december 31 related to these items?