Identify which of the following statements is true. Group of answer choices Sec. 338 election requires the adoption of the old target corporation's tax year by the new target corporation Section 338 requires a deemed election to be made. Tax attributes of the target corporation are not lost when a Sec. 338 deemed liquidation election is made. When the acquiring corporation makes the Sec. 338 election, the target corporation is treated in many respects as a new corporation.

Many potential buyers value high-quality used cars at the full-information market price of € p1 and lemons at € p2. a limited number of potential sellers value high-quality cars at € v1 ≤ p1 and lemons at € v2 ≤ p2. everyone is risk neutral. the share of lemons among all the used cars that might be potentially sold is € θ . suppose that the buyers incur a transaction cost of $200 to purchase a car. this transaction cost is the value of their time to find a car. what is the equilibrium? is it possible that no cars are sold