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saimeiei · 2019年12月25日

问一道题:NO.PZ2018091705000059

问题如下:

John C. Hill, sole owner of JCH Equipment Leasing Co. (JCH), is evaluating a future sale of his company and approaches Mary Keller, a wealth adviser, for advice.

Hill refers his friend, Richard Morrison, the former CEO of Masury Bridge and Iron (MBI), to Keller to discuss his wealth goals. Keller meets with Morrison and gathers the following information:

 Richard Morrison is 50 years old and his spouse, Meredith, is 49 years old. Both are healthy and both expect to live at least an additional 40 years.

 The Morrisons have a 20-year-old son and would like to transfer 5% of their wealth to him during their lifetime.

 Richard Morrison retired two years ago and intends to spend his time serving on philanthropic boards; Meredith does not work.

 The Morrisons own 2 million shares of MBI, currently valued at $50 million, representing approximately 90% of their wealth.

 MBI is a large, publicly traded company, and the Morrisons’ position equals approximately 1% of the total market capitalization.

 The Morrison family depends on dividends from MBI for their day-to-day living expenses.

 The cost basis of their MBI shares is close to zero, and the capital gains tax rate is 15%.

 Richard Morrison is loyal to MBI, follows the stock closely, believes he knows the company better than other investors, and expects the company to continue to be a good investment in the future just like it has been in the past.

 The Morrisons’ key objective is to maintain their current standard of living during retirement.

State and discuss two constraints on the Morrisons’ ability to achieve their primary objectives using an outright sale of MBI shares.

选项:

解释:

Two constraints that may inhibit the Morrisons from achieving their primary objective are the tax consequences of a sale and the attachment of Mr. Morrison to his company as an investment. With a cost basis of nearly zero, an outright sale in the current year would result in the Morrisons incurring a capital gains tax of approximately $7.5 million.

老师你好,这里的两个限制是1、卖资产的资本利得税 2、对股票的情感因素吗?

1 个答案

包包_品职助教 · 2019年12月25日

嗨,爱思考的PZer你好:


对的,这个的attachment of Mr. Morrison to his company as an investment.可以理解为他对公司的忠诚


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这里边说的cost basis nezero是什么意思,是说买股票没有费用,所以资本利得会很多么

2021-11-21 18:58 1 · 回答

NO.PZ2018091705000059 John Hill, sole owner of JEquipment Leasing Co. (JCH), is evaluating a future sale of his company anapproaches Mary Keller, a wealth aiser, for aice. Hill refers his frien RicharMorrison, the former CEO of Masury Brie anIron (MBI), to Keller to scuss his wealth goals. Keller meets with Morrison angathers the following information: • RicharMorrison is 50 years olanhis spouse, Mereth, is 49 years ol Both are healthy anboth expeto live least aition40 years. • The Morrisons have a 20-year-olson anwoullike to transfer 5% of their wealth to him ring their lifetime. • RicharMorrison retiretwo years ago aninten to spenhis time serving on philanthropic boar; Mereth es not work. • The Morrisons own 2 million shares of MBI, currently value$50 million, representing approximately 90% of their wealth. • Mis a large, publicly tracompany, anthe Morrisons’ position equals approximately 1% of the totmarket capitalization. • The Morrison family pen on vin from Mfor their y-to-y living expenses. • The cost basis of their Mshares is close to zero, anthe capitgains trate is 15%. • RicharMorrison is loyto MBI, follows the stoclosely, believes he knows the company better thother investors, anexpects the company to continue to a gooinvestment in the future just like it hbeen in the past. • The Morrisons’ key objective is to maintain their current stanrof living ring retirement. State anscuss two constraints on the Morrisons’ ability to achieve their primary objectives using outright sale of Mshares. Two constraints thminhibit the Morrisons from achieving their primary objective are the tconsequences of a sale anthe attachment of Mr. Morrison to his company investment. With a cost basis of nearly zero, outright sale in the current yewoulresult in the Morrisons incurring a capitgains tof approximately $7.5 million. Hi, is it ok to answer in the following way? if it is ok , cI score all marks. if not, whis missing? thanks a lot~ Morizons pen on vin from Mfor normliving expense Sale of the Mshares woulhave no vinstributeto them Morixon expects the company to continuously gooin the future Sale of Mshares woulloss the upsi potentiin the future

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