Assume the same facts as in Problem C:11-43. Assume further that Raider Corporation reports $75,000 of ordinary income, $20,000 of tax-exempt income, and a $25,000 long-term capital gain in the next year.
a. What income and deductions will Monte and Allie report from next year's activities?
b. What is Monte's stock basis on December 31 of next year?
c. What are Allie's stock basis and note basis on December 31 of next year?
d. What loss carryovers (if any) are available to Monte and Allie?