Assume that in the first step of the reorganization, Auto Corp. will exchange $7,624,565 worth of Auto Corp. stock plus land with a fair market value of $2,402,100. Auto Corp.'s land had a basis of $421,222 prior to the exchange. Battery Corp.'s assets had a basis of $1,422,450 prior to the exchange. Assume that in the second step of the reorganization, Battery Corp. will distribute the $7,624,565 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 $404,614. Sydney will now be a shareholder of Auto Corp. instead of Battery Corp. What will Sydney's basis in her Auto Corp. stock be after the reorganization? You do not need to address Sydney's basis in the land (boot); boot always takes a fair market value basis