Question: Which of the following is a potential drawback of a Section 338 election? Multiple choice question. The acquiring corporation will often obtain higher depreciation deductions

Which of the following is a potential drawback of a Section 338 election? Multiple choice question. The acquiring corporation will often obtain higher depreciation deductions on the target's assets in subsequent years. Neither the acquirer nor target corporation recognizes gain. The target corporation must recognize gain on appreciated assets when the acquisition is complete

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