26 The Fair Market Value of Land contributed to a corporation by a local government to induce the corporation to locate in the community is not taxable to the corperation TRUE FALSE QUESTION 27 If both Section 357(b) (No Bona Fide Business Purpose) and Section 357(c) (debt exceeds the basis of properties transferred (le. Excess Debt)) apply to the same Section 351 transfer, Section 357(b) controls. TRUE FALSE