82.

In 2018, Sally transferred a building with an adjusted basis of $40,000 and a fair market value of $45,000 to Sandy Corporation. In exchange, she received the following:

1. 80% of Sandy Corporation's only class of stock, FMV of $20,000

2. Equipment with a FMV of $25,000 and an adjusted basis of $10,000

What is Sandy Corporation's basis in the building received in the transfer?

1. $5,000

2. $25,000

3. $45,000

4. $50,000

5. None of the above