The fair market value of a partnership can be implied by
A) adding the incoming partner's market value of consideration to the book value of the existing partnership.
B) the tax basis of the old partner's assets added to the incoming partner's consideration.
C) The incoming partner's market value of consideration divided by the incoming partner's percentage share in profit and loss.
D) The incoming partner's market value of consideration divided by the incoming partner's percentage ownership share in the new partnership.
Correct Answer:
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