Which of the following statements does not describe a motivation by the buyer or seller in the acquisition or sale of a company?

• Buyers generally prefer to buy assets because they can take a tax basis in the assets acquired equal to the assets' fair market value.
• Sellers generally prefer to sell assets in a tax-deferred reorganization to avoid higher tax rates imposed on gains from the sale of non-capital assets.
• Sellers generally prefer to sell stock because they can recognize capital gain on the sale taxed at preferential rates.
• Buyers generally prefer to buy stock because they can take a tax basis in the underlying assets of the company acquired equal to the assets' fair market value.