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A shareholder's basis in stock received in a Sec. 351 transaction is Select one: a.Decreased by the gain recognized by the transferor. b.Decreased by liabilities

A shareholder's basis in stock received in a Sec. 351 transaction is

Select one:

a.Decreased by the gain recognized by the transferor.

b.Decreased by liabilities assumed by the corporation.

c.Increased by the gain recognized by the corporation.

d.Increased by the FMV of boot received from the corporation.

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