Breslin Incorporated made a capital contribution of investment property to its 100-percent-owned subsidiary, Crisler Company. The investment property had a fair market value of $3,320,000 and a tax basis to Breslin of $2,900,000. Required: What are the tax consequences to Breslin Incorporated on the contribution of the investment property to Crisler Company? What is the tax basis of the investment property to Crisler Company after the contribution to capital? What gain or loss, if any, would Crisler recognize if it received a contribution to capital of the property from the local city government? What basis would it take in the property