52 bol 57. Alex and Jessica form AJ Inc. 100 Alex contributes 3-year-old farm equipment purchased...

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52 bol 57. Alex and Jessica form AJ Inc. 100 Alex contributes 3-year-old farm equipment purchased for $150,000, depreciated using the Alternative Depreciation System over 10 years on a straight line basis, with a $105,000 adjusted basis and $100,000 fair market value in exchange for 100 shares of AJ worth $100,000. Jessica transfers inventory with a $22,000 adjusted tax basis and $20,000 fair market value for 20 shares of AJ stock worth $20,000. dood 52 bol 57. Alex and Jessica form AJ Inc. 100 Alex contributes 3-year-old farm equipment purchased for $150,000, depreciated using the Alternative Depreciation System over 10 years on a straight line basis, with a $105,000 adjusted basis and $100,000 fair market value in exchange for 100 shares of AJ worth $100,000. Jessica transfers inventory with a $22,000 adjusted tax basis and $20,000 fair market value for 20 shares of AJ stock worth $20,000. dood