Aaron and Joe form AJ consulting, Inc. Aaron contributes $120,000 cash for 70% of the stock. Joe contributes equipment with an FMV of $90,000 and an adjusted basis of $30,000 for 30% of the stock. Joe also receives $10,000 cash from the corporation. What is the corporation's basis in the asset received from Joe? $30,000$90,000$40,000$10,000