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Able, Baker, and Charlie organized F Corp. with authorized voting common stock of $ 1 0 0 , 0 0 0 . Able received 1
Able, Baker, and Charlie organized F Corp. with authorized voting common stock of $ Able received of the capital stock in payment for the organizational services that he rendered for the benefit of the newly formed corporation. Able did not contribute property to F Corp and was under no obligation to be paid by Baker or Charlie.
Baker transferred property with a FMV of $ and an adjusted basis of $ for of the stock in F Corp.
Charlie transferred property with a FMV of $ and an adjusted basis of $ for of the stock in F Corp.
What is Able's basis in his stock in F Corp.?
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