Flynn Corporation purchased bicycles from a British manufacturer at a price of 44,000 British pounds on November 15, 2017 with payment due in 60 days. Using the following exchange rates, what gain or loss from currency fluctuations should be recognized in 2017 and 2018, respectively? Nov 15, 2009 $1.70 per British Pond
Dec 31, 2009 $1.75 per British Pond
Jan 15, 2010 $1.73 per British Pond

a. A $2,250 loss in 2009 and a $900 gain in 2010.
b. No gain or loss in 2009 and a $1,350 loss in 2010.
c. A $2,250 gain in 2009 and a $900 loss in 2010.
d. No gain or loss in 2009 and a $1,350 gain in 2010.

Nell and kirby are in the process of negotiating their divorce agreement. what should be the tax consequences to nell and kirby if the following, considered individually, became part of the agreement? a. in consideration for her one-half interest in their personal residence, kirby will transfer to nell stock with a value of $200,000 and $50,000 of cash. kirby's cost of the stock was $150,000, and the value of the personal residence is $500,000. they purchased the residence three years ago for $300,000.nell's basis for the stock is $ xkirby's basis in the house is $ xb. nell will receive $1,000 per month for 120 months. if she dies before receiving all 120 payments, the remaining payments will be made to her estate.the payments (qualify, do not qualify) as alimony and are (included in, excluded from) nell's gross income as they are received.c. nell is to have custody of their 12-year-old son, bobby. she is to receive $1,200 per month until bobby (1) dies or (2) attains age 21 (whichever occurs first). after either of these events occurs, nell will receive only $300 per month for the remainder of her life.$ x per month is alimony that is (included in, excluded from) nell's gross income, and the remaining $ x per month is considered (child support, property settlement) and is (nontaxable, taxable) to nell.