Assume that in the first step of the reorganization, Auto Corp. will exchange $6,207,749 worth of Auto Corp. stock plus land with a fair market value of $1,343,315. Auto Corp.'s land had a basis of $163,207 prior to the exchange. Battery Corp.'s assets had a basis of $3,798,040 prior to the exchange. Assume that in the second step of the reorganization, Battery Corp. will distribute the $6,207,749 in Auto Corp. stock plus the land that it just acquired from Auto Corp. to Battery Corp.'s sole shareholder, Sydney, in exchange for all of Sydney's shares of Battery Corp. Prior to the exchange, Sydney's basis in her shares of Battery Corp. stock was $345,269. Sydney will now be a shareholder of Auto Corp. instead of Battery Corp. a What will Auto Corp.'s basis be in the assets acquired from Battery Corp.? Assume that in the first step of the reorganization, Auto Corp. will exchange $6,207,749 worth of Auto Corp. stock plus land with a fair market value of $1,343,315. Auto Corp.'s land had a basis of $163,207 prior to the exchange. Battery Corp.'s assets had a basis of $3,798,040 prior to the exchange. Assume that in the second step of the reorganization, Battery Corp. will distribute the $6,207,749 in Auto Corp. stock plus the land that it just acquired from Auto Corp. to Battery Corp.'s sole shareholder, Sydney, in exchange for all of Sydney's shares of Battery Corp. Prior to the exchange, Sydney's basis in her shares of Battery Corp. stock was $345,269. Sydney will now be a shareholder of Auto Corp. instead of Battery Corp. a What will Auto Corp.'s basis be in the assets acquired from Battery Corp