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A newly formed corporation received the following assets in exchange for stock: Appreciation Basis FMV ( Built in Loss) Adjusted Basis Equipment 300,000 250,000 Land

A newly formed corporation received the following assets in exchange for stock:

Appreciation

Basis FMV (Built in Loss) Adjusted Basis

Equipment 300,000 250,000

Land 400,000 430,000

Trucks/Other 400,000 320,000

Building 400,000 220,000

What is the corporations adjusted basis of each asset to the corporation? You must show your calculations.

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