Question: Pursuant to an election under Section 338, Raspberry Corporation, acquires stock and, in conjunction with the stock seller, elects to treat the stock purchase as an asset acquisition. Explain
1. How this choice is permissible under Section 338, including the specific subsection applicable to this scenario;
2. How the deemed asset sale should be reported on the target company's consolidated income tax return; and
3. Why Raspberry Corporation would choose to treat the acquisition this way (what benefit do they stand to gain?).
Maintain a formal tone and support your analysis. Back up your discussion with research from scholarly sources
• Your analysis should be 4-5 pages, APA FORMAT, 3 SCHOLARLY REFERENCES , INCLUDE INTRODUCTION AND CONCLUSION