Adjusted Basis (LO. 3) Determine the adjusted basis of each of the following assets a. Andr purchased a parcel of land three years ago for $18,200. In the current year, the adjoining property owner sues him, claiming that part of Andr's property belongs to him undor the right of adverse possession. Andr incurs $3,690 in legal fees successfully defending against the lawsuit. He pays annual property taxes of $300 on the land and has paid $3,770 in interestn the loan he took out to acquire the property. b. Ren purchases 1,000 shares of Cramdem Company common stock for $7 per share on October 13, 2016. In 2017, Cramdem pays a taxable cash dividend of 40 cents per share. Ren sell: 200 chares on August 22, 2018, for $3 per share. On December 2. 2018, Cramdem pays a nontaxable cash dividend of 10 cents per share. c. Rufus owns 12 acres of land he purchased as an investment for $4,930 He spent an additional $35.750 subdividing the land into residential parcel and having utility lines run to the property. After the subdividing and utility lines had been completed, he gifted two acres of the land to his sister as a wedding present