You are a CPA and have been hired by a client who comes to you with a letter from the IRS indicating that it is auditing several items on client`s tax return and make the following assertions. a. the method the client used to value foreign currency exchanges is incorrect. b. an undervalued international exchange of appreciated property should show a larger gain. c. sales through export operations were under-reported and revenue under-stated. d. the transfer of intangible property for stock was undervalued and results in a larger gain. e. investments made to another country were done through a subsidiary and not a branch and are taxable as such. 1. respond to the assertions by the IRS and counter those assertions with your own. Provide support for the rationale used in the response. 2. make a convincing argument that the information/documentation your client possesses justifies and supports the client`s claim. Provide supporting evidence for your argument.